Backblaze (BLZE) Launches $30M Proposed Follow-On Offering

Backblaze, Inc. (Nasdaq: BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced the launch of a proposed follow-on public offering of $30,000,000 of shares of its Class A common stock (the “Common Stock”). In addition, Backblaze expects to grant the underwriters a 30-day option to purchase up to an additional $4,500,000 of shares of Common Stock from Backblaze at the public offering price less the underwriting discount. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Oppenheimer & Co. Inc. and Needham & Company, LLC are acting as joint book-running managers for the offering.

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