BUZZ-AI computing firm Blaize tumbles on $35 mln equity raise

Blaize Holdings, Inc.

Blaize Holdings, Inc.

BZAI

0.00

** AI computing firm Blaize Holdings BZAI.O shares down 23.8% before the bell to $1.77 after $35 mln follow-on offering priced

** El Dorado Hills, California-based co early Weds says it sold ~18.9 mln shares at $1.85, a 20% discount to stock's last close

** It intends to use net offering proceeds for working capital and general corp purposes

** Northland Capital Markets sole bookrunner

** BZAI has ~123.3 mln shares outstanding as of May 1, per the prospectus

** At close on Tues, stock up 18.5% YTD including 76% surge over the past three months

** All 4 analysts covering the stock rate it "buy"; median PT $6, according to LSEG data


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