SAIHEAT Ltd

SAIHEAT Limited announced an Extraordinary General Meeting to approve its merger with Canopy Wave Inc., a pioneering AI infrastructure and high-performance inference platform provider. The transaction values Canopy Wave at US$60.0 million pre-money and involves SAIHEAT issuing 3,306,269 Ordinary Shares. Post-merger, SAIHEAT will be renamed "Canopy Wave Holdings Inc." and is expected to trade under the ticker "CWAV" on Nasdaq, with Canopy Wave's founders taking key management roles. Additionally, SAIHEAT secured a US$4.5 million PIPE investment from certain investors.

SAIHEAT Limited announced a definitive merger agreement with Canopy Wave Inc., an AI infrastructure and high-performance inference platform provider. The transaction values Canopy Wave at $60.0 million and SAIHEAT at $40.0 million pre-money, with Canopy Wave shareholders holding a majority economic and voting interest in the combined entity. The merged company will be renamed "Canopy Wave Holdings Inc." and is expected to trade on Nasdaq under the ticker "CWAV," repositioning SAIHEAT into the AI inference market. A concurrent PIPE financing will raise approximately $4.5 million, and Canopy Wave's founding team will lead the new company.

SAIHEAT Limited announced a change in control following a share transfer. Peng Zhang transferred his 100% stake in Energy Science Artist Holding Limited to Longwin Global Limited for US$1,000,000. This transaction resulted in Longwin Global Limited becoming the sole controlling shareholder of SAIHEAT Limited.

SAIHEAT Ltd. adopted its Fifth Amended and Restated Memorandum and Articles of Association on April 24, 2026. The updated documents detail the company's authorized share capital, including 22,024,624 Class A ordinary shares, 642,043 convertible Class B ordinary shares, and 666,666 preference shares, all with a par value of US$0.0015 each. The amendments also outline specific rights and restrictions for Class B shares, including conversion options and protection against dilution or adverse changes without Class B shareholder approval.