Backblaze’s History and Business Modelįounded in 2007, Backblaze has quickly established itself as one of the leading cloud storage providers in the market. Its IPO is likely to draw significant investor interest. With its focus on providing affordable, reliable, and secure cloud storage solutions to individuals and businesses, Backblaze has gained a loyal following in the tech industry. Cloud Backblaze Thursday Friday 100m IPO is set to take place on Thursday and Friday and is expected to be one of the most highly anticipated IPOs of the year. Oppenheimer & Co., William Blair and Raymond James are the lead book-running managers for the offering.Underwriters also have a 30-day option to purchase an additional 937,500 shares at the IPO price.This has Backblaze expecting gross proceeds of $100 million from the IPO.It’s also worth noting that the offering includes 6.25 million shares.It’s pricing these shares at $16 each, which is the midpoint of its previous range of $15 to $17 per share.First off, the company plans to list shares of BLZE stock on the Nasdaq Exchange.Let’s jump into all the details traders need to know about the Backblaze IPO.Cloud storage company Backblaze has recently announced its plans to go public with an initial public offering (IPO) of $100 million. They are also all still together working at Backblaze.During that time, they launched two other companies.These co-founders had been working together for 20 years before creating Backblaze.The company was created by seven co-founders that built their own storage solutions.The company currently has about 500,000 customers across more than 175 countries.Users can also make use of the company’s services to host content, manage media, build apps, and more.Backblaze is a cloud storage company that makes it easy for users to save their data.The Backblaze is set to close on Monday.įinally, Lake Street is acting as the co-manager of the IPO.ħ F-Rated Stocks to Sell Before We Reach Christmas.Riley Securities are serving as the joint book-running managers for it. There’s plenty more news worth diving into below! InvestorPlace has all the latest stock news that traders need to know about today. RIDE Stock: The $230M Reason Lordstown Motors Is Racing Higher Today.HBAR Crypto News: Hedera Hashgraph’s New Grant Promises to Transform How You Invest.AGC Stock: Why Altimeter Growth Is Slumping Ahead of the Grab SPAC Merger.You can get all of those details from the following links! More Stock Market News for Thursday That includes what has Altimeter Growth ( NASDAQ: AGC) falling, what to know about Hedera Hashgraph (CCC: HBAR-USD), as well as the news sending Lordstown Motors ( NASDAQ: RIDE) stock higher. On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. Stock Prodigy Who Found NIO at $2… Says Buy THIS Now The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. Man Who Called Black Monday: “Prepare Now.News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.īackblaze (NASDAQ: BLZE), a storage cloud platform, plans to go public next week. The IPO will be available on Robinhood's IPO Access platform, among other brokerages. Here are 9 key things to know about the upcoming Backblaze IPO:ġ. Backblaze IPO Date - Backblaze will go public next Thursday, November 11. Backblaze will start trading under the ticker symbol “BLZE” on Nasdaq. Generally, shares that make their public stock market debuts start trading between 10 AM - 2 PM ET.Ģ. Backblaze IPO Pricing - Backblaze expects to price its shares between $15.00 and $17.00 per share.ģ. Shares Offered - Backblaze is looking to sell 6,250,000 shares. The S-1 filing shows the number of outstanding shares after IPO offering would be 28,545,893 shares.Ĥ. Backblaze IPO Valuation - Backblaze is seeking a valuation of between $428 million to $485 million.ĥ. The company intends to use raised proceeds to increase its financial flexibility and create a public market for our Class A common stock, obtain additional working capital, and facilitate our future access to the public equity markets.Ħ.īLZE IPO Raised Proceeds: Backblaze is looking to raise $100 million at the midpoint of the expected pricing range. BLZE IPO Underwriters - Oppenheimer, William Blair, and Raymond James are key IPO underwriters. JMP and B.Riley are also taking part in the offering.ħ. Backblaze Financials - Backblaze said it registered revenues of $53.8 million in 2020, as well as a $6.6 million net loss.
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