BLZE IPO Underwriters - Oppenheimer, William Blair, and Raymond James are key IPO underwriters. 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. BLZE IPO Raised Proceeds: Backblaze is looking to raise $100 million at the midpoint of the expected pricing range. Backblaze IPO Valuation - Backblaze is seeking a valuation of between $428 million to $485 million.ĥ. The S-1 filing shows the number of outstanding shares after IPO offering would be 28,545,893 shares.Ĥ. Shares Offered - Backblaze is looking to sell 6,250,000 shares. Backblaze IPO Pricing - Backblaze expects to price its shares between $15.00 and $17.00 per share.ģ. Generally, shares that make their public stock market debuts start trading between 10 AM - 2 PM ET.Ģ. Backblaze will start trading under the ticker symbol “BLZE” on Nasdaq. Backblaze IPO Date - Backblaze will go public next Thursday, November 11. Here are 9 key things to know about the upcoming Backblaze IPO:ġ. The IPO will be available on Robinhood's IPO Access platform, among other brokerages. Till June 2021, B2 revenue surged by 60 per cent year-over-year (YoY), and the online backup business registered a growth of 12 per cent YoY.Backblaze (NASDAQ: BLZE), a storage cloud platform, plans to go public next week. #BACKBLAZE IPO WORTH IT HOW TO#The B2 cloud storage service of Backblaze has managed to get some small organizations on board: Gladstone Institutes, American Public Television, and California's Kings.Īlso Read: How to buy Redwood Materials stock? #BACKBLAZE IPO WORTH IT SOFTWARE#In addition, the purpose-built software is designed to manage the physical infrastructure of 200,000 hard drives and one terabit per second of network capacity. Furthermore, the core platform is designed to store trillions of files in future. The core platform of Backblaze's cloud services is the Backblaze Storage Cloud, and it keeps over 500 billion files available on demand. The underwriting responsibility for the initial public offering is on Oppenheimer and Co., William Blair and Raymond James. The stock is generally allotted on a lottery basis, and an investor may or may not get hold of it. Interested investors may set up their accounts on a trading platform and book for the pre-IPO stock. Generally, pre-IPO shares are allotted by trading platforms or registered stockbrokers having access to the common stock before a company starts trading on a stock exchange. If the IPO happens, retail investors could get a chance of buying the pre-IPO shares of the cloud services provider. #BACKBLAZE IPO WORTH IT REGISTRATION#Once the SEC approves the registration statement, the Backblaze common stock could start trading under the 'BLZE' stock symbol.Īlso Read: Nexii Building Solutions IPO: Can you buy Nexiite-maker's stock? The cloud storage company has not revealed the price range of the shares, and as per the documents filed with the Securities and Exchange Commission (SEC), Backblaze wants to go public on the Nasdaq Stock Market. In the cloud storage space, Backblaze competes with the giants like Amazon Web Services (AWS). Ever since then, the California-based company has expanded into cloud storage and has customers across 175 countries.īackblaze IPO: How to buy this cloud-based services provider's stock? In November 2020, it was first reported that Backblaze was in talks with investment banks for its public debut and was seeking a valuation of around one billion US dollars.Įstablished in 2007, Backblaze was led by Gelb Budman and started as a company selling backup software to companies and individuals. is looking to go public in the US stock markets as demand for cloud computing surged during the COVID-19 pandemic. Cloud-based storage space provider Backblaze, Inc.
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