secwatch.observer — SEC 8-K summary
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Issuer:     Backblaze, Inc. (BLZE)
CIK:        0001462056
Form:       8-K
Filed at:   2026-08-24T20:43:39+00:00
Accession:  0001140361-26-034200
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Backblaze issues $201.25M 0% convertible notes due 2031 at 30% premium
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- $201.25M of 0% Convertible Senior Notes due Aug 15, 2031 issued Aug 24, 2026; net proceeds ~$167M.
- Initial conversion price ~$21.94/share (45.5705 shares per $1,000), 30% premium over $16.88 close.
- Capped call transactions cost ~$17.5M; cap price $33.76/share, 100% premium over $16.88.
- Fifth Amendment raised revolver capacity from $20M to $50M and extended maturity to Apr 30, 2030.
- Notes non-callable until Aug 20, 2029; proceeds for capex and general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462056/000114036126034200/0001140361-26-034200-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462056/000114036126034200/ef20080933_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-034200

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer