REG - TMT Investments - Backblaze IPO Pricing Update

TMT InvestmentsAnnouncement

11/11/2021 10:00

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RNS Number : 0986S  TMT Investments PLC  11 November 2021

11 November 2021

 

TMT INVESTMENTS PLC

("TMT" or the "Company")

 

Backblaze IPO Pricing Update

 

TMT Investments Plc (AIM: TMT.L), the venture capital company investing in
high-growth technology companies, notes that its portfolio company Backblaze,
Inc. ("Backblaze"), a leading cloud storage platform, announced on 10 November
2021 the pricing of its initial public offering of 6,250,000 shares of its
Class A common stock at a price to the public of US$16.00 per share, for gross
proceeds to Backblaze of US$100,000,000, before underwriting discounts,
commissions, and offering expenses payable by Backblaze.

 

Backblaze's Class A common stock is expected to begin trading on the Nasdaq
Global Market on 11 November 2021 under the ticker symbol "BLZE."  The
offering is expected to close on 15 November 2021, subject to the satisfaction
of customary closing conditions.

 

At the placing price of US$16.00 per share, the value of TMT's investment in
Backblaze is valued at approximately US$59.8 million, which represents a
revaluation uplift of US$1.8 million (or 3.2%) in the value of TMT's
investment in Backblaze, compared to the previously announced valuation as of
30 June 2021 (adjusted for the value of TMT's additional investment made in
Backblaze in the second half of 2021).

 

 

For further information contact:

 

 TMT Investments Plc                                      +44 (0)1534 281 800

 Alexander Selegenev                                      (Computershare - Company Secretary)

 Executive Director

 www.tmtinvestments.com (http://www.tmtinvestments.com)   alexander.selegenev@tmtinvestments.com

                                                        (mailto:alexander.selegenev@tmtinvestments.com)

 Strand Hanson Limited                                    +44 (0)20 7409 3494

 (Nominated Adviser)

 James Bellman / James Dance

 Cenkos Securities plc                                    +44 (0)20 7397 8900

 (Joint Broker)

 Ben Jeynes

 Hybridan LLP                                             +44 (0)20 3764 2341

 (Joint Broker)

 Claire Louise Noyce

 Kinlan Communications                                    +44 (0)20 7638 3435

 David Hothersall                                         davidh@kinlan.net (mailto:davidh@kinlan.net)

 

 

About TMT Investments Plc

 

TMT Investments Plc invests in high-growth technology companies across a
number of core specialist sectors and has a significant number of Silicon
Valley investments in its portfolio. Founded in 2010, TMT has a current
investment portfolio of over 50 companies and net assets of US$218 million as
of 30 June 2021.  The Company's objective is to generate an attractive rate
of return for shareholders, predominantly through capital appreciation.  The
Company is traded on the AIM market of the London Stock Exchange.
www.tmtinvestments.com (http://www.tmtinvestments.com) .

 

Twitter (https://twitter.com/TMT_PLC)

 

LinkedIn (http://www.linkedin.com/company/tmt-investments-plc)

 

Facebook (https://www.facebook.com/TmtInvestmentsPlc/)

 

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