Business
Backblaze IPO Pricing Update
Backblaze IPO Pricing Update.
About this update from Tmt Investments Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0986S\n TMT Investments PLC\n 11 November 2021\n \n \n \n \n 11 November 2021\n \n \n \n \n \n TMT INVESTMENTS PLC\n \n \n (\"TMT\" or the \"Company\")\n \n \n \n \n \n Backblaze IPO Pricing Update\n \n \n \n \n \n TMT Investments Plc (AIM: TMT.L), the venture capital company investing in high-growth technology companies, notes that its portfolio company Backblaze, Inc. (\"Backblaze\"), a leading cloud storage platform, announced on 10 November 2021 the pricing of its initial public offering of 6,250,000 shares of its Class A common stock at a price to the public of US$16.00 per share, for gross proceeds to Backblaze of US$100,000,000, before underwriting discounts, commissions, and offering expenses payable by Backblaze.\n \n \n \n \n \n Backblaze's Class A common stock is expected to begin trading on the Nasdaq Global Market on 11 November 2021 under the ticker symbol \"BLZE.\" The offering is expected to close on 15 November 2021, subject to the satisfaction of customary closing conditions.\n \n \n \n \n \n At the placing price of US$16.00 per share, the value of TMT's investment in Backblaze is valued at approximately US$59.8 million, which represents a revaluation uplift of US$1.8 million (or 3.2%) in the value of TMT's investment in Backblaze, compared to the previously announced valuation as of 30 June 2021 (\n adjusted for the value of TMT's additional investment made in Backblaze in the second half of 2021)\n .\n \n \n \n \n \n \n \n \n For further information contact:\n \n \n \n \n \n \n \n \n TMT Investments Plc\n \n \n Alexander Selegenev\n \n \n Executive Director\n \n \n \n \n www.tmtinvestments.com\n \n \n \n \n \n \n \n \n \n +44 (0)1534 281 800\n \n \n (Computershare - Company Secretary)\n \n \n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n Strand Hanson Limited\n \n \n (Nominated Adviser)\n \n \n James Bellman / James Dance\n \n \n \n \n \n \n \n +44 (0)20 7409 3494\n \n \n \n \n \n \n Cenkos Securities plc \n \n \n (Joint Broker)\n \n \n Ben Jeynes\n \n \n \n \n \n \n \n +44 (0)20 7397 8900\n \n \n \n \n \n \n Hybridan LLP\n \n \n (Joint Broker)\n \n \n Claire Louise Noyce\n \n \n \n \n \n \n \n +44 (0)20 3764 2341\n \n \n \n \n \n \n Kinlan Communi...