The SAIHEAT Limited (NASDAQ: SAIH) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as a foreign private issuer. SAIHEAT files an annual report on Form 20-F and furnishes current reports on Form 6-K under the Securities Exchange Act of 1934. These filings include audited and unaudited financial results, press releases, and other information the company chooses to furnish to the U.S. Securities and Exchange Commission.
Recent Form 6-K submissions referenced in public records have covered topics such as audited financial results for the year ended December 31, 2024 and unaudited interim results for later periods. They also attach exhibits containing press releases, including announcements about SAIHEAT’s patent for a “Waste Heat Recovery System and Method” and other operational updates. Through these filings, investors can review details on revenues from equipment sales, hosting, mining pool business, and mining, as well as cost of revenues, operating expenses, and non-GAAP measures that adjust for share-based compensation, depreciation, amortization, and certain crypto asset-related items.
On Stock Titan, SAIHEAT’s SEC filings are presented with real-time updates from the EDGAR system and AI-powered summaries that explain the key points of each document in plain language. Users can quickly understand the implications of annual reports on Form 20-F, interim updates on Form 6-K, and other submitted materials without reading every page. The platform also makes it easier to track trends in segment performance, crypto asset holdings, and other disclosures that SAIHEAT includes in its SEC reports.
For investors researching SAIHEAT’s business model in BTC and AI computing, liquid cooling, waste heat recovery, and small modular nuclear products, this filings page offers a structured way to review the company’s official financial and operational information.
SAIHEAT agreed to merge with Canopy Wave, which will survive as its wholly owned subsidiary, subject to customary closing conditions including SAIHEAT shareholder approval and Nasdaq listing approval. Total merger consideration is 3,306,269 ordinary shares: 3,120,594 for Canopy Wave sellers and 185,675 Class A shares reserved for future issuance upon option exercises. SAIHEAT also agreed to issue and sell 247,970 Class A shares to PIPE investors at US$18.15 each, for approximately US$4.5 million in gross proceeds. The combined company is to be renamed Canopy Wave Holdings Inc.
Canopy Wave is the accounting acquirer. Following closing, its former stockholders are expected to hold approximately 54.19% of economic interests and 78.44% of voting power; each Class B share carries ten votes. Pro forma ordinary shares outstanding after the merger and PIPE are 5,200,924.
Unaudited pro forma combined revenue for 2025 is $16.895 million, with a $5.988 million net loss, assuming the transactions occurred January 1, 2025; the figures are informational, not predictive of actual results. Preliminary goodwill is $26.922 million, subject to measurement-period adjustments. Canopy Wave’s $1.840 million in notes plus accrued unpaid interest are required to be repaid in full in cash upon merger closing.
SAIHEAT Ltd (SAIH) reports that all shareholder proposals were approved at an extraordinary general meeting held on August 26, 2026. One key approval re-designates 145,601 authorized but unissued Class B Ordinary Shares as Class A Ordinary Shares, conditional upon and effective at the Effective Time.
After the reclassification and after giving effect to the prior conversion of all issued and outstanding Class B shares into Class A shares, the Company’s authorized share capital of US$35,000 will be divided into 22,170,225 Class A Ordinary Shares, 496,442 Class B Ordinary Shares, and 666,666 preference shares, each with a par value of US$0.0015. Voting results show strong support, with proposals receiving about 6.43 million votes in favor against low opposition and minimal abstentions.
SAIHEAT Limited has called an extraordinary general meeting on 26 August 2026 to seek shareholder approval for an all‑stock acquisition of Canopy Wave Inc., an AI infrastructure and GPU‑as‑a‑Service provider founded in 2024 with over US$15 million in aggregate revenue since launch.
The Merger Agreement values Canopy Wave at US$60.0 million and SAIHEAT at US$40.0 million, with total consideration of 3,306,269 ordinary shares, including 2,624,152 Class A shares, 496,442 Class B shares, and 185,675 Class A shares for an option pool, implying a per‑share price of US$18.15. A concurrent PIPE will issue 247,970 Class A shares for approximately US$4.5 million at the same price.
Post‑closing, SAIHEAT will be renamed Canopy Wave Holdings Inc. and is expected to remain listed on Nasdaq under ticker CWAV, with the sellers holding a majority of economic and voting power on a fully diluted basis. Existing Class B holder Energy Science will convert its Class B shares to Class A, adopt new governing documents, and receive registration rights. Sellers are subject to a six‑month lock‑up, and 110,192 Class A shares will be placed in escrow to secure indemnification obligations.
SAIHEAT Limited agreed to acquire Canopy Wave Inc. in an all‑stock merger, with Canopy Wave merging into a SAIHEAT subsidiary to become a wholly owned unit. The combined company is expected to be renamed Canopy Wave Holdings Inc. and list on Nasdaq under the ticker CWAV, subject to approvals.
The merger values Canopy Wave at US$60.0 million and SAIHEAT at US$40.0 million, and provides an aggregate of 3,306,269 new SAIHEAT ordinary shares, including an option pool. At a reference price of US$18.15 per Class A share, former Canopy Wave holders are expected to own about 54.19% of economic interests and 78.44% of voting power post‑closing.
SAIHEAT also arranged a concurrent PIPE of 247,970 Class A shares for approximately US$4.5 million, and agreed to register these and certain converted Class B shares for resale. Closing is contingent on shareholder approval, Nasdaq listing conditions, minimum US$500,000 net cash, PIPE completion and absence of material adverse effects.
SAIHEAT Limited filed an Amendment No. 1 to Form F-3 to create a shelf registration to offer, from time to time, up to $300,000,000 of Class A Ordinary Shares, debt securities, warrants, rights and units. The shelf rolls over unsold capacity from an expiring 2023 F-3 and may be used for primary issuances or resale transactions as described in future prospectus supplements. The Company reported its Class A Ordinary Shares and IPO Warrants trade on Nasdaq under the symbols SAIH and SAIHW with last reported prices on June 30, 2026 of $11.60 and $172.5, respectively. As of the prospectus, non-affiliate public float was stated as $13.80 million based on 1,189,428 Class A Ordinary Shares held by non-affiliates. The registration includes standard shelf mechanics, an issuer use-of-proceeds statement for working capital and general corporate purposes, and detailed terms for existing IPO Warrants including an $11.50 exercise price and a $16.50 redemption trigger.
SAIHEAT Limited filed a Form F-3 shelf registration to offer, from time to time, up to $300,000,000 of Class A Ordinary Shares, debt securities, warrants, rights and units. The shelf may be used in one or more offerings after the registration becomes effective.
The prospectus states an aggregate market value of Class A Ordinary Shares held by non-affiliates of approximately $13.80 million as of June 30, 2026 (based on 1,189,428 Class A Ordinary Shares and a closing price of $11.60 per share). The company notes dual-class voting (Class A: one vote; Class B: ten votes) and that Mr. Ma controls Class B voting power.
SAIHEAT Ltd received an updated ownership filing showing a change in control. Peng Zhang agreed on June 5, 2026 to transfer his one ordinary share of Energy Science Artist Holding Limited, representing 100% of Energy Science, to Longwin Global Limited for US$1,000,000.
This transaction makes To Ma, the sole shareholder of Longwin Global, the sole controlling shareholder of SAIHEAT, with 84.36% voting power. Through Energy Science and Longwin Global, the reporting persons beneficially own 642,043 Class B ordinary shares, representing 100% of the Class B ordinary shares, out of 1,190,317 Class A and 642,043 Class B shares outstanding.
SAIHEAT Limited reports a change in control following an internal share transfer. On June 5, 2026, Peng Zhang agreed to transfer his one ordinary share of Energy Science Artist Holding Limited, representing 100% of its issued share capital, to Longwin Global Limited for US$1,000,000. Because Energy Science ultimately controls SAIHEAT Limited, this transaction makes Longwin Global Limited the sole controlling shareholder of the Company. The Company states there are no arrangements or understandings among the former and new control groups and their associates regarding the election of officers or other matters, except as described in this report.
SAIHEAT Limited files its annual report on Form 20-F, outlining a bitcoin-focused business that mines cryptocurrency and provides hosting using power-intensive data centers and heat-recovery technology. The company highlights a limited operating history, highly volatile bitcoin economics, and dependence on low-cost electricity and specialized mining hardware.
SAIHEAT reports net losses of $6.1 million in 2023, $5.9 million in 2024 and $6.5 million in 2025, with an accumulated deficit of $44.3 million as of December 31, 2025. As of that date, it had 1,190,317 Class A and 642,043 Class B Ordinary Shares outstanding.
The filing details extensive risks: capital-intensive expansion, reliance on a few mining-equipment suppliers, exposure to power price swings, environmental and permitting constraints, supply-chain and tariff disruptions, and intense competition. It also emphasizes significant U.S. and international regulatory uncertainty around crypto assets, potential investment-company, money-services and tax-reporting classifications, and cybersecurity and custody risks related to holding bitcoin and other crypto assets.