Backblaze to offer $150M convertible senior notes due 2031; upsizes revolver to $50M

Backblaze, Inc.

$150M aggregate principal of Convertible Senior Notes due 2031, private placement under Rule 144A; 13-day option for $22.5M over-allotment.
Proceeds to fund capped call transactions and general corporate purposes including capital expenditures.
Fourth Amendment permits issuance; Fifth Amendment to raise revolver from $20M to $50M, extend maturity to April 30, 2030, modify covenants.
BofA Securities lead bookrunner; notes convertible into cash, stock, or combination at Backblaze's election.

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