Blaize, A Global Provider Of AI Solutions For Edge Computing, To Go Public Through A Business Combination With BurTech Acquisition Corp.
Portfolio Pulse from Benzinga Newsdesk
Blaize, a provider of AI solutions for edge computing, is set to go public through a merger with BurTech Acquisition Corp. (NASDAQ: BRKH). The transaction values Blaize at $894 million and is expected to provide at least $70 million in proceeds to accelerate Blaize's product roadmap and capitalize on business opportunities. Blaize has a strong customer pipeline and strategic investors like DENSO and Mercedes Benz. The merger is expected to close in Q2 2024, subject to approvals and conditions.
December 22, 2023 | 8:18 pm
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BurTech Acquisition Corp. (BRKH) is set to merge with Blaize, an AI solutions provider, with the transaction valuing Blaize at $894 million. The merger is expected to close in Q2 2024, subject to stockholder and regulatory approvals.
The announcement of the merger with Blaize is significant for BRKH as it marks its entry into the AI edge computing market. The valuation of Blaize at $894 million suggests a substantial deal that could attract investor interest in BRKH. The expected proceeds from the merger are intended to support Blaize's growth, which could positively impact BRKH's stock price in the short term. However, the actual closing of the merger is subject to approvals, which introduces some uncertainty.
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