Bolt Projects to Raise $4.25M via Private Placement

Bolt Projects Holdings is raising $4.25M in a private placement, selling 913,979 shares at $4.65 per share. The gross proceeds will be approximately $4.25M, with the net proceeds used for working capital and general corporate purposes. The transaction is expected to close on August 15, 2025.

Bolt Projects Holdings (NASDAQ: BSLK) has successfully raised $4.25M through a private placement, selling 913,979 shares at $4.65 per share. The gross proceeds from this offering will amount to approximately $4.25M, with the net proceeds earmarked for working capital and general corporate purposes. The transaction is scheduled to close on August 15, 2025 [1].

The funding round comes as the company faces critical challenges, including a potential Nasdaq delisting hearing and significant financial pressures. Bolt Projects has been navigating a tumultuous 2025 with a series of strategic moves, including a $20M financing term sheet with Ascent Partners, contingent on stock price and volume thresholds [2]. The company has also been grappling with a cash burn rate of $2.5M over H1 2025, which threatens liquidity unless the Ascent Partners financing materializes [3].

The $4.25M raise, which includes dilutive warrants and pre-funded shares, represents a short-term liquidity boost. However, the transaction's terms—including 7% cash fees, $65,000 in expenses, and warrants exercisable at $0.0001—highlight significant dilution risks. The pre-funded warrants, exercisable immediately with no expiration, could further dilute existing shareholders if exercised, particularly given Bolt's current valuation of 15.95x enterprise value to sales, which exceeds industry averages [2].

Bolt's recent financial performance has shown mixed results. While revenues grew twenty-three-fold year-over-year to $1.3M in Q2 2025, the company delivered a net loss of $4.6M and an adjusted EBITDA loss of $3.3M, underscoring the fragility of its financial position [4]. The company's strategic focus remains on generating long-term, sustainable profitability through revenue growth, operational efficiencies, and cost of goods sold reductions.

For investors, Bolt's recent capital raises present a high-risk, high-reward scenario. The $4.25M raise and Ascent Partners term sheet offer liquidity but come with dilution and execution risks. The company's ability to meet Q3 milestones—particularly the September 2025 tranche and Nasdaq compliance—will be critical [2]. Key considerations for investors include monitoring the Nasdaq hearing outcome, tracking Q3 financing execution, and assessing revenue and margin progress.

References:
[1] https://www.ainvest.com/news/bolt-projects-holdings-secures-4-25m-funding-issues-pre-funded-warrants-2508/
[2] https://www.ainvest.com/news/bolt-projects-projects-4-25m-funding-raise-strategic-inflection-point-nasdaq-delisting-risks-2508/
[3] https://seekingalpha.com/news/4486014-bolt-projects-to-raise-4_25m-in-private-placement
[4] https://www.marketscreener.com/news/bolt-projects-holdings-inc-announced-that-it-expects-to-receive-4-250002-million-in-funding-ce7c51d9dd8cf026