11, Backblaze ( BLZE 0. Seeking Alpha’s Donovan Jones lays out a bullish thesis for the stock here. Since its initial public offering (IPO) at 16 per share on Nov.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.” Cloud storage provider Backblaze Inc filed for a U.S.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. Backblaze has filed a registration statement on Form S-1 with the Securities and Exchange Commission (the SEC) to offer 6,250,000 shares of its Class A common stock to the public. The company was founded by Timothy Nufire, Gleb Budman, Charles Jones, Kwok Hang Ng and Brian. Assuming both carry the same price, that valued the company at about $468M on a non-diluted basis as of its IPO. (Backblaze), a leading storage cloud platform, today announced that it has launched the roadshow for its initial public offering. It also offers B2 Cloud Storage and Computer Backup services. 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. Cloud software vendor Qualtrics soared in its Nasdaq debut Thursday after the company priced its IPO above the expected range. The underwriters for the IPO are Morgan Stanley, Goldman Sachs, and J.P. The Backblaze IPO will occur on Thursday and Friday, March 16th and 17th, 2023, respectively. The company aims to raise 100 million through the IPO. BLZE shot up to as high as a $22.25 intraday, up 39.1% from the stock’s $16-a-share IPO price. Backblaze will offer 10 million shares of common stock at 10 to 12 per share.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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