Backblaze, Inc. (BLZE) Form 8-K — Aug 24, 2026
Backblaze, Inc. closed the issuance of $201.25 million aggregate principal amount of 0.00% Convertible Senior Notes due 2031 on August 24, 2026, including the full $26.25 million initial purchasers' option, under an indenture with U.S. Bank Trust Company, National Association as trustee. The notes bear no regular interest and carry an initial conversion rate of 45.5705 shares per $1,000, equivalent to a conversion price of approximately $21.94 per share versus the $16.88 close on August 19, 2026.
Key figures
- Debt Amount
- 201250000
- Interest Rate
- 0
- Maturity Date
- 2031-08-15
- Notes coupon
- 0.00% (no regular interest, principal does not accrete)
- Conversion rate
- 45.5705 shares per $1,000 principal
- Capped call cost
- approximately $17.5 million
- Conversion price
- approximately $21.94 per share
- No redemption before
- August 20, 2029
- Capped call cap price
- $33.76 per share (100% premium over $16.88 close on Aug 19, 2026)
- Cross default threshold
- $5,000,000 of other indebtedness
- Revolver capacity change
- increased from $20 million to $50 million
- Max shares issuable on conversion
- 11922393
- Credit facility maturity extension
- from June 4, 2028 to April 30, 2030
- Initial purchasers option exercised
- $26.25 million (included in $201.25 million total)
Price after filing
Close on the filing date to close N calendar days later (from $15.55). Historical, not a forecast.
AI analysis
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