Backblaze, Inc. announced on August 18, 2026, its intention to offer $150 million in aggregate principal amount of Convertible Senior Notes due 2031 via a private placement to qualified institutional buyers under Rule 144A. The company may grant an option for purchasers to buy up to an additional $22.5 million of notes. Proceeds will fund capped call transactions and general corporate purposes, including capital expenditures. Concurrently, Backblaze entered into a Fourth Amendment to its credit agreement with Citizens Bank to permit the offering and plans a Fifth Amendment to increase revolving borrowing capacity from $20 million to $50 million, extend maturity to April 30, 2030, and modify financial covenants. Backblaze operates in the technology industry, providing object storage infrastructure for AI and data-intensive workloads.
