Blaize Holdings declared a dividend of one one-thousandth of a Series B Preferred share for each outstanding common share. The company issued the dividend to facilitate a potential future reverse stock split.
The record date for the distribution is October 26, 2026. These preferred shares will vote alongside common stock exclusively on reverse stock split proposals.
Each full preferred share carries 1,000,000 votes. This allocation gives each distributed fractional unit 1,000 votes on the matter.
Shareholders cannot transfer the preferred stock separately from their common stock. Blaize will redeem the preferred shares immediately following the stockholder vote on the reverse split proposal.