Backblaze, Inc. announced on November 25, 2024, that the underwriters of its recently completed upsized public offering fully exercised their option to purchase an additional 937,500 shares of Class A common stock. These additional shares were sold at a price of $5.60 per share.
The full exercise of the over-allotment option brings the total net proceeds to Backblaze from the offering to $37.5 million, after deducting underwriting discounts and commissions. The offering initially priced 6,250,000 shares at $5.60 per share, raising $35 million.
This successful capital raise provides Backblaze with enhanced financial resources to support its strategic priorities and long-term growth. The offering was made pursuant to an effective shelf registration statement filed with the SEC.
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