Investment Banking
Active Bookrunner on the Upsized Convertible Senior Notes Offering for Backblaze
August 26, 2026
Oppenheimer & Co. Inc. acted as Active Bookrunner on the Upsized $201,250,000 0.0% Convertible Senior Notes Offering for Backblaze, Inc. (NASDAQ: BLZE)
Oppenheimer & Co. Inc. acted as Active Bookrunner on the upsized $201,250,000 offering of 0.0% Convertible Senior Notes due 2031 for Backblaze, Inc. ("Backblaze" or the "Company"). The base offering was increased to $175,000,000 from the previously announced offering size of $150,000,000 aggregate amount of notes. Strong demand from investors resulted in a book that was multiple-times oversubscribed, an upsized deal and full exercise of the overallotment option. The company intends to use the net proceeds from the offering (i) to fund the purchase of a capped call hedge overlay, and (ii) for general corporate purposes, including capital expenditures.
Backblaze is the object storage layer powering AI infrastructure and data-intensive workloads at scale. Built over two decades, the company has leveraged hardware, software, and operational innovation into a platform that delivers the performance and economics the AI era demands—without lock-in. Today, more than 500,000 customers trust Backblaze to move and store the data powering their businesses, reaching hundreds of millions of end users across 175 countries. The Company was founded in 2007 and is based in San Francisco, California.
This is the third transaction Oppenheimer has led for the Company since 2021.
Read the press release here: Backblaze, Inc. - Backblaze Announces Pricing of Upsized $175 Million Convertible Senior Notes Offering
Technology Investment Banking
Name:
Robin Graham
Title:Managing Director, Head of Technology Investment Banking
Name:
Nitin Doke
Title:Managing Director, Software, Cloud & IT Infrastructure
Name:
Yogesh Amle
Title:Managing Director, Co-Head of Infrastructure Software
Name:
Ranjot Singh
Title:Managing Director, Technology Mergers & Acquisitions
Convertible Securities Advisory
Name:
Robert Missant
Title:Managing Director
Convertible Sales and Trading
Name:
Matthew Weitz
Title:Managing Director
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