Backblaze Announces Proposed Private Offering of $150 Million of Convertible Senior Notes
SAN FRANCISCO -- Backblaze, Inc. (Nasdaq: BLZE), the storage platform powering AI and data-intensive workloads, today announced that it intends to offer, subject to market and other conditions, $150 million aggregate principal amount of Convertible Senior Notes due 2031 (the "Notes") in a private offering (the "Offering") to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").
Backblaze also expects to grant the initial purchasers of the Notes a 13-day option to purchase up to an additional $22.5 million aggregate principal amount of the Notes, solely to cover over-allotments, if any.
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