Cloud storage co Backblaze jumps in Nasdaq debut

Backblaze

11/11/2021 16:31

** Shares of storage cloud platform Backblaze Inc  BLZE.O 
opened nearly 19% above their initial public offering (IPO)
price in Nasdaq debut 
    ** BLZE opened at $19 while shares at its IPO were priced at
$16, at the mid-range of its targeted price range of $15 and $17
per share
    ** At the opening price, co fetched a market capitalization
of $556.19 mln
    ** Co sold 6.25 mln shares in IPO, raising $100 mln 
    ** BLZE had about 500,000 customers as of June 30
    ** For the fiscal year ended Dec. 31, 2020, its revenue grew
32% y/y
    ** Oppenheimer & Co, William Blair and Raymond James were
the lead book-running managers for the offering
    
 

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))