Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
(a) Recent Sales of Unregistered Securities
None.
(b) Use of Proceeds from Registered Securities
On May 6, 2026, we completed a public offering of 18,918,918 shares of our common stock at a price of $1.85 per share pursuant to our Registration Statement on Form S-3 (File No. 333-292986), which was declared effective by the SEC on February 4, 2026. Northland Securities, Inc. acted as representative of the underwriters. We received initial net proceeds of approximately $32.8 million, after deducting underwriting discounts and commissions and other initial offering expenses. As of June 30, 2026, we have used approximately $16.5 million of the net proceeds for working capital and general corporate purposes, and the remaining approximately $16.3 million is held in cash and cash equivalents pending application for working capital and general corporate purposes.
(c) Issuer Repurchases of Equity Securities
The following table sets forth information with respect to our repurchases of common stock in each month of the second quarter of 2026:
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Period Total Number of Shares Purchased (1)
Average Price Paid per Share (1)
Total Number of Shares Purchased as Part of Publicly Announced Programs Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program
April 1, 2026 - April 30, 2026 — $ — Not applicable Not applicable
May 1, 2026 - May 31, 2026 — $ — Not applicable Not applicable
June 1, 2026 - June 30, 2026 26,989 $ 1.76 Not applicable Not applicable
(1) During the second quarter of 2026, 26,989 shares of common stock were surrendered by an executive officer of the Company in connection with the vesting of RSUs in order to pay for applicable tax withholding. Under the Blaize Holdings, Inc. 2025 Incentive Award Plan (“Incentive Plan”), participants may surrender shares in satisfaction of applicable tax withholding on the vesting of equity awards. Shares so surrendered by participants in the Incentive Plan may be repurchased pursuant to the terms of the Incentive Plan and not pursuant to publicly announced share repurchase programs. The “average price per share” deemed paid for these shares was based on the closing price of our common stock on the date of vesting of $1.76. These shares of common stock have been cancelled.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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