Blaize Holdings, Inc. (BZAI) Form 424B3 — Aug 13, 2026
Blaize Holdings filed a prospectus supplement (424B3) on August 13, 2026 covering 18,750,000 shares of common stock, filed to fold its Q2 2026 10-Q disclosures into its December 18, 2025 prospectus. The incorporated 10-Q contains a going-concern warning: management states the company's liquidity raises substantial doubt about its ability to continue as a going concern, with $36.8 million of cash against $41.3 million of first-half operating cash burn, and its $15.5 million B. Riley equity facility unusable while the stock trades below $1.00 (it closed at $1.15 on August 12, 2026).
Key figures
- Revenue
- 11985000
- Revenue Yoy
- Q2 2026 revenue of $11.985 million vs. $1.982 million in Q2 2025 (filing marks percentage change as not meaningful); 99.6% of Q2 2026 revenue from one China-based customer
- Total Assets
- 79514000
- Cash Position
- 36847000
- Shares Outstanding
- 144832039
- Polar warrants
- 9375000
- H1 2026 revenue
- 14723000
- H1 2026 net loss
- 51462000
- Cash held in china
- 12400000
- China cash percent
- 34%
- Accumulated deficit
- 687617000
- Stockholders equity
- 42790000
- Credit loss allowance
- 9548000
- Bess settlement shares
- 2000000
- Accounts receivable net
- 13860000
- Neotensr contract capacity
- up to $50 million in first year; one $13.7 million PO; amended Aug 7, 2026 to take-or-pay
- H1 2026 operating cash used
- 41297000
- Polar warrant exercise price
- $3.00 (reduced from $5.00 in May 2026)
- May 2026 offering net proceeds
- 32800000
- Closing price aug 12 2026 common
- 1.15
- Starshine receivable outstanding
- 8800000
- Uae opportunity expected revenue
- up to $104 million (no purchase order received)
- Closing price aug 12 2026 warrant
- 0.22
- Future share issuance commitments
- 98134597
- May 2026 offering price per share
- 1.85
- Raw material purchase commitments
- 10800000
- Neotensr receivable due sept 24 2026
- 13300000
- Starshine minimum revenue commitment
- $120 million (no longer expected)
- H1 2026 credit loss provision additions
- 9000000
- Committed equity facility remaining capacity
- 15500000
AI analysis
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