Wednesday, November 10, 2021

Backblaze prices IPO

Backblaze, which offers a storage cloud platform, announced the pricing of its initial public offering of 6,250,000 shares of its Class A common stock at a price to the public of $16.00 per share, for gross proceeds to Backblaze of $100,000,000, before underwriting discounts, commissions, and offering expenses payable by Backblaze. In addition, the underwriters of the initial public offering have a 30-day option to purchase up to an additional 937,500 shares of Class A common stock from the Company at the initial public offering price, less underwriting discounts and commissions.

Backblaze’s Class A common stock is expected to begin trading on the Nasdaq Global Market on November 11, 2021 under the ticker symbol "BLZE." The offering is expected to close on November 15, 2021, subject to the satisfaction of customary closing conditions.