Blaize Shares Fall After Pricing Public Offering of Common Shares
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%