Blaize Issues Super-Voting Series B Preferred to Push Through Reverse Split

summarizeSummary

Blaize declared a dividend of super-voting Series B preferred stock that votes only on the reverse split and adjournment proposals, a mechanism to secure approval of the Nasdaq delisting cure. No cash is raised and no common shares are issued.

check_boxKey Events · Corporate Governance and Compliance · BZAI

• Super-Voting Preferred Dividend Declared

  One one-thousandth of a Series B preferred share per common share, record date October 26, 2026; each preferred share carries 1,000,000 votes, or 1,000 votes per one-thousandth share.

• Votes Limited to Reverse Split

  The Series B votes with common as a single class only on the reverse split amendment and any adjournment proposal, and on no other matter except as Delaware law requires.

• Automatic Redemption Mechanism

  Preferred not present by proxy at the meeting is redeemed immediately before the polls open; the rest is redeemed at the close of business on the earlier of a Board-set date or the first business day after stockholder approval.

• No Cash, No Common Issued

  The Series B pays no dividends, is not convertible, has no maturity, and carries a $0.0001 per share liquidation preference — a voting vehicle, not a capital raise.

auto_awesomeAnalysis · BZAI · Manufacturing

Blaize's board declared a dividend of one one-thousandth of a Series B preferred share per common share, and each of those preferred shares carries 1,000,000 votes — 1,000 votes per one-thousandth share — on the reverse split and any adjournment, and nothing else. The structure effectively guarantees that shares voted in favor of the reverse split are multiplied, while preferred held by stockholders who do not show up is automatically redeemed before the polls open. This matters because the reverse split is the company's stated cure for the Nasdaq delisting notice received October 2, and the preliminary proxy filed October 20 already asks holders to approve a 1-for-10 to 1-for-35 ratio. The Series B has no dividend, no conversion, and a nominal $0.0001 liquidation preference, so it is a voting mechanism rather than a financing — no cash is raised and no common shares are issued. The Certificate of Designations became effective October 21, 2026, with a record date of October 26, 2026.