08:54 AM EST, 11/11/2025 (MT Newswires) -- Blaize ( BZAI ) said Tuesday it agreed to a private investment in public equity deal with Polar Asset Management Partners to raise about $30 million in gross proceeds, with closing expected Wednesday subject to customary conditions.

The company said it is selling almost 9.4 million common shares at $3.20 apiece and issuing warrants to buy 9.4 million shares with a five-year term and a $5 exercise price.

The net proceeds will be used for working capital and other corporate needs, including commercialization of the company's artificial intelligence platform and development of its next-generation chip, Blaize ( BZAI ) said.

Proceeds from the PIPE, as well as the capital from its committed equity facility with B. Riley and expected customer receipts, are anticipated to fund core operations, excluding next-gen chip spending, well into H2 of 2026, the company added.