Backblaze plans private offering of USD 150 million convertible senior notes due 2031

Reuters2026/08/18 20:07

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Backblaze launched a private offering of USD 150 million Convertible Senior Notes due 2031 to qualified institutional buyers under Rule 144A.
Notes convert into cash, Class A shares, or a mix at Backblaze’s election; key terms set at pricing.
Initial purchasers may buy up to an extra USD 22.5 million of notes to cover over-allotments.
Proceeds earmarked for capped call costs; remaining funds for general corporate purposes, including capital expenditures.
Capped call hedging could drive near-term trading in Class A stock, potentially affecting share price and conversion dynamics.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Backblaze Inc. published the original content used to generate this news brief on August 18, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Backblaze plans private offering of USD 150 million convertible senior notes due 2031

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