Backblaze, Inc. announced the pricing of its IPO 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 IPO have a 30-day option to purchase up to an additional 937,500 shares of Class A common stock from the company at the IPO price, less underwriting discounts and commissions.
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.
Oppenheimer & Co., William Blair & Company, LLC, and Raymond James and Associates, Inc. are acting as lead book-running managers for the offering, with JMP Securities and B. Riley Securities acting as joint book-running managers, and Lake Street acting as the co-manager for the offering.