InvestorPlace - Stock Market News, Stock Advice & Trading Tips There’s plenty more news worth diving into below! They are also all still together working at Backblaze. These co-founders had been working together for 20 years before creating Backblaze.ĭuring that time, they launched two other companies. 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. Riley Securities are serving as the joint book-running managers for it.įinally, Lake Street is acting as the co-manager of the IPO.ħ F-Rated Stocks to Sell Before We Reach Christmasīackblaze is a cloud storage company that makes it easy for users to save their data. 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. Let’s jump into all the details traders need to know about the Backblaze IPO.įirst off, the company plans to list shares of BLZE stock on the Nasdaq Exchange. An image of a cloud imprinted on a circuit board lit up by blue circuit lights representing the backblaze IPO and stock.
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