![]() There’s plenty more news worth diving into below! InvestorPlace has all the latest stock news that traders need to know about today. RIDE Stock: The $230M Reason Lordstown Motors Is Racing Higher Today.HBAR Crypto News: Hedera Hashgraph’s New Grant Promises to Transform How You Invest.AGC Stock: Why Altimeter Growth Is Slumping Ahead of the Grab SPAC Merger.You can get all of those details from the following links! More Stock Market News for Thursday That includes what has Altimeter Growth ( NASDAQ: AGC) falling, what to know about Hedera Hashgraph (CCC: HBAR-USD), as well as the news sending Lordstown Motors ( NASDAQ: RIDE) stock higher. On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. Stock Prodigy Who Found NIO at $2… Says Buy THIS Now The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. Man Who Called Black Monday: “Prepare Now.News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.īackblaze (NASDAQ: BLZE), a storage cloud platform, plans to go public next week. The IPO will be available on Robinhood's IPO Access platform, among other brokerages. Here are 9 key things to know about the upcoming Backblaze IPO:ġ. Backblaze IPO Date - Backblaze will go public next Thursday, November 11. Backblaze will start trading under the ticker symbol “BLZE” on Nasdaq. Generally, shares that make their public stock market debuts start trading between 10 AM - 2 PM ET.Ģ. Backblaze IPO Pricing - Backblaze expects to price its shares between $15.00 and $17.00 per share.ģ. Shares Offered - Backblaze is looking to sell 6,250,000 shares. The S-1 filing shows the number of outstanding shares after IPO offering would be 28,545,893 shares.Ĥ. Backblaze IPO Valuation - Backblaze is seeking a valuation of between $428 million to $485 million.ĥ. The company intends to use raised proceeds to increase its financial flexibility and create a public market for our Class A common stock, obtain additional working capital, and facilitate our future access to the public equity markets.Ħ.īLZE IPO Raised Proceeds: Backblaze is looking to raise $100 million at the midpoint of the expected pricing range. ![]() BLZE IPO Underwriters - Oppenheimer, William Blair, and Raymond James are key IPO underwriters. JMP and B.Riley are also taking part in the offering.ħ. Seeking Alpha’s Donovan Jones lays out a bullish thesis for the stock here.Backblaze Financials - Backblaze said it registered revenues of $53.8 million in 2020, as well as a $6.6 million net loss.BLZE’s pre-IPO investors include London-listed financial firm TMT Investments, which owns about 25% of the company.The New York Times’ Wirecutter review site recently lauded BLZE as “the easiest to use and the best cloud backup service for most people.”.The company’s subscription-based products compete with larger rivals like the S3 service from Amazon (NASDAQ: AMZN), Azure from Microsoft (NASDAQ: MSFT) and Google Cloud from Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). BLZE offers cloud-based computer storage and backup services to both businesses and consumers.Thursday’s rally boosted that up to about $582.5M. Assuming both carry the same price, that valued the company at about $468M on a non-diluted basis as of its IPO. Backblaze ( BLZE) will have a total of about 29.3M Class A and B shares outstanding going forward.one vote for Class A shares, giving insiders about 97% of BLZE’s voting power. The company also has Class B shares for executives and pre-IPO investors.BLZE also granted underwriters the option to buy 937,500 extra Class A shares for overallotments. The firm’s initial public offering raised $100M by selling some 6.3M Class A shares at the midpoint of their expected $15-$17/share range.Shares later pulled back, but still ended the day ahead 24.4% at $19.90. BLZE shot up to as high as a $22.25 intraday, up 39.1% from the stock’s $16-a-share IPO price.Backblaze (NASDAQ: BLZE) soared nearly 40% intraday Thursday in its first trading session following an IPO that valued the cloud-storage firm at just under $500M.
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