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White & Case Advises on Backblaze’s US$115 Million IPO

Global law firm White & Case LLP has advised Oppenheimer & Co. Inc., a leading global full-service brokerage and investment bank, as a lead book-running manager, on Backblaze, Inc.'s US$115 million initial public offering. The offering included 6,250,000 shares of Class A common stock at a price of US$16.00 per share, including 937,500 shares of Class A common stock issued pursuant to the exercise of the underwriters’ overallotment option. The units are listed on the Nasdaq Global Market and trade under the ticker symbol "BLZE."

Backblaze is a leading storage cloud platform that provides a foundation for businesses, developers, IT professionals and individuals to store, back up and archive data, host content, manage media, build their applications and more. Backblaze has nearly two exabytes of data storage under management, and currently works with close to 500,000 customers in more than 175 countries.

In addition to Oppenheimer & Co. Inc., William Blair & Company, L.L.C. and Raymond James & Associates, Inc. acted as lead book-running managers. JMP Securities and B. Riley Securities acted as joint book-running managers, and Lake Street acted as the co-manager for the offering.

The White & Case Capital Markets team was led by partner Stuart Bressman (New York), and included associates Alok Choksi, Guiying Ji and Christina Min (all in New York).

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