secwatch.observer — SEC 8-K summary
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Issuer:     Backblaze, Inc. (BLZE)
CIK:        0001462056
Form:       8-K
Filed at:   2025-06-05T23:59:59+00:00
Accession:  0001628280-25-029519
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Backblaze enters $20M senior secured revolving credit facility with Citizens Bank
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- Facility matures June 2027 with optional 12-month extension; SOFR+3.25% or ABR+2.25% interest.
- Up to $3M available for letters of credit; commitment fee of 0.35% on unused portion.
- Proceeds for working capital and general corporate purposes; secured by substantially all assets.
- Financial covenants include minimum liquidity, minimum consolidated EBITDA, and max leverage.
- Customary negative covenants limit additional debt, liens, investments, and mergers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462056/000162828025029519/0001628280-25-029519-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462056/000162828025029519/blze-20250604.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-029519

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