Blaize to hit the Bourses with BurTech Acquisition Corp

Blaize, a leader in AI-enabled edge computing, announces a definitive agreement for a business combination with BurTech Acquisition Corp., paving the way for a Nasdaq listing.

Blaize, a global front-runner in purpose-built AI solutions for edge computing, has revealed plans to go public through a definitive agreement with BurTech Acquisition Corp, a publicly traded special purpose acquisition company.

The merger, valued at a pro forma enterprise value of $894 million, positions Blaize for listing on Nasdaq under a new ticker symbol upon successful completion. Blaize boasts a comprehensive suite of full-stack, AI-enabled computing solutions, targeting a diverse market with an estimated total addressable value exceeding $70 billion.

The company specialises in addressing edge AI processing challenges, offering high-performance computing with minimal latency and energy consumption.

Blaize's proprietary architecture includes user-friendly software solutions including Blaize AI Studio and Blaize Picasso SDK, facilitating swift application development and deployment.

BurTech's CEO and Chairman, Shahal Khan, expressed optimism about the potential in edge AI, stating that the partnership with Blaize positions the combined entity for success in the transformative field. Dinakar Munagala, CEO and cofounder of Blaize, hailed the merger as a landmark event, emphasizing the company's readiness to tackle global AI computing challenges.

Under the merger agreement, Blaize will merge into a BurTech subsidiary, becoming a direct wholly owned subsidiary. Stockholders of Blaize will receive shares of BurTech common stock, reflecting an implied pro forma enterprise value of $894 million at $10.00 per share.

The transaction is expected to generate minimum proceeds of $71 million, including cash from BurTech’s trust account and a committed $25 million investment from Burkhan Capital, LLC.

The earnout shares, contingent on meeting stock price thresholds, may result in the issuance of 16.3 million shares of common stock of BurTech after the transaction's closing.

Upon completion, BurTech will be rebranded as "Blaize Holdings, Inc.," marking a pivotal moment in the evolution of both companies within the AI and edge computing landscape.