Backblaze prices upsized USD 175 million convertible senior notes offering due 2031

Backblaze priced an upsized USD 175 million offering of 0.00% Convertible Senior Notes due 2031.

• Initial purchasers received an option for up to an additional USD 26.25 million of notes within 13 days of issuance.
• Offering size was raised from USD 150 million; closing is expected Aug. 24, 2026.
• Net proceeds are estimated at about USD 167.2 million, or about USD 192.7 million if the option is fully exercised.
• Proceeds are earmarked for capped call costs of about USD 15.2 million, with the balance for general corporate purposes, including capital expenditures.