Bess Ventures defers foreclosure on 2M shares under third forbearance

What did Blaize Holdings, Inc. announce?

Lane Bess and Bess Ventures reported 10.4% aggregate beneficial ownership of Blaize and disclosed a Sept. 16 third forbearance agreement deferring transfer of 2 million collateral shares from the defaulted sponsor.

Key details

• Aggregate beneficial ownership is approximately 10.4%: Lane Bess 13,021,985 shares (9.0%), Bess Ventures & Advisory LLC 12,446,783 shares (8.6%), Destin Huang Irrevocable Trust 389,968 shares (0.3%).
• Bess Ventures loaned $25,000,000 to the sponsor under the Bess Notes; the sponsor defaulted and Bess foreclosed on 3,500,000 collateral shares on May 8, 2026.
• On July 7, 2026 the company issued 2,000,000 shares to Bess Ventures under a settlement agreement resolving custody of the collateral stock; the Sept. 16, 2026 Third Forbearance Agreement defers title transfer on a further 2,000,000 contested shares.
• Reporting persons state the shares are held for investment purposes, with no stated intent to influence management or the board; earnout rights cover up to 15 million shares tied to trading-price triggers.

Why it matters

This 13D/A reports a change in ownership at Blaize Holdings, Inc.. The likely share-price reaction reads as neutral.