LONDON, UK: Backblaze Inc., a leading cloud storage platform has priced its initial public offering of 6.25 million shares of its Class A common stock at a price to the public of $16 per share, for gross proceeds to Backblaze of $100 before underwriting discounts, commissions, and offering expenses payable by Backblaze.īackblaze’s Class A common stock is expected to begin trading on the Nasdaq Global Market on 11 November 2021 under the ticker symbol “BLZE.” The offering is expected to close on 15 November 2021, subject to the satisfaction of customary closing conditions.Īt the placing price of $16 per share, the value of TMT’s investment in Backblaze is valued at approximately $59.8 million, which represents a revaluation uplift of $1.8 million (or 3.2 per cent) in the value of TMT’s investment in Backblaze, compared to the previously announced valuation as of 30 June 2021 (adjusted for the value of TMT’s additional investment made in Backblaze in the second half of 2021).īackblaze Inc. Backblaze’s IPO was priced at 25 per share, above the expected range of 20 to 23 per share. Is a portfolio company of TMT Investments. TMT Investments invests in high-growth technology companies across a number of core specialist sectors and has a significant number of Silicon Valley investments in its portfolio.įounded in 2010, TMT has a current investment portfolio of over 50 companies and net assets of US$218 million as of 30 June 2021. Backblaze, a cloud backup and storage company, went public on Friday with an initial public offering (IPO) that raised 650 million. Backblaze was founded in 2007 and is headquartered in San Mateo, California. Backblaze raised 100 Million Replication:bove the deck are server farm corridors. Backblaze has granted the underwriters a 30-day option to purchase up to an additional 975,000 shares of common stock at the IPO price. The company said it plans to raise up to 650 million in its initial public offering. When inside, it seems that a server from approx. The Company’s objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation. Backblaze thursday friday 100m ipo 650mnovetcnbc. NEW YORK, Nov 20 (Reuters) - Backblaze Inc is seeking to hire investment banks for an initial public offering (IPO) in 2021 that could value the cloud storage and backup software provider at. operates as a cloud provider for businesses and consumers to store, use, and protect their data. BLZE shot up to as high as a 22.25 intraday, up 39.1 from the stock’s 16-a-share IPO price. Backblaze thursday 100m ipo 650mnovetcnbc WebBackblaze, Inc. The Company is traded on the AIM market of the London Stock Exchange. SAN MATEO, Calif.- ( BUSINESS WIRE )-Backblaze, Inc. The company, which was founded in 2007, priced its shares at 23 each, valuating the company at 4.4 billion. Last Thursday, Cloud Backblaze Thursday 100M IPO 650MNovetCNBC filed for an IPO that is said to be worth up to 650 million.
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