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WASHINGTON, January 08, 2025--(BUSINESS WIRE)--BurTech Acquisition Corp. ("BurTech") (OTC: BRKH) today announced that all of the proposals submitted to its stockholders in connection with the previously announced business combination with Blaize, Inc. ("Blaize"), a leader in edge AI, were approved by the requisite number of shares of BurTech common stock voted at the special meeting. A current report on Form 8-K disclosing the full voting results was filed with the Securities and Exchange Commission (the "SEC") on December 30, 2024. The BurTech stockholder approval marks a significant milestone for Blaize as it prepares for its debut on NASDAQ.
The closing of the business combination is expected to occur promptly following the satisfaction or waiver of all closing conditions. Following the closing of the business combination, the combined company will be renamed "Blaize Holdings, Inc." and its common stock and public warrants are expected to begin trading on Nasdaq under the ticker symbols "BZAI" and "BZAI.W," respectively.
BurTech’s approach to the business combination has emphasized robust pre-business combination funding for Blaize, development of strategic commercial partnerships, and rigorous operational readiness. Blaize’s $116 million convertible notes issued from August 2023 through February 2024, together with additional funding that is expected to be received by the combined company upon closing of the business combination, reflects the importance BurTech placed on securing funding for the combined company to position the combined company for sustained growth.
Shahal Khan, CEO of BurTech, commented, "This merger vote is a pivotal moment for Blaize and the broader AI ecosystem. We believe our approach with BurTech prioritizes investor confidence and long-term value creation. Blaize’s cutting-edge edge AI solutions exemplify the transformative potential of technology to improve lives and industries globally. At BurTech, we remain steadfast in our vision to invest in technologies and solutions that have a positive and lasting impact on mankind and the future."
Based upon industry reports, the total addressable market ("TAM") for AI accelerators silicon for edge applications is estimated at approximately $34.3 billion in 2024, and expected to grow to over $63.7 billion by 2030. Blaize’s innovative AI hardware and software solutions are poised to capitalize on this explosive growth, driving advancements in sectors such as transportation, healthcare, and smart cities.