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Blaize Shares Fall After Pricing Public Offering of Common Shares

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Blaize (BZAI) shares fell 21.3% on Wednesday after the company said it priced a public offering of over 18.9 million common shares at $1.85 apiece for gross proceeds of $35 million.

The company will grant the underwriters a 30-day overallotment option to buy up to an additional 2.8 million common shares, according to a statement.

Net proceeds will be used for general corporate purposes, the company said.

The offering is expected to be completed on May 7, subject to closing conditions, according to the company.

Price: $1.81, Change: $-0.50, Percent Change: -21.65%

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