Backblaze Terminates Material Definitive Agreement
Ticker: BLZE · Form: 8-K · Filed: Dec 13, 2024 · CIK: 1462056
| Field | Detail |
|---|---|
| Company | Backblaze, Inc. (BLZE) |
| Form Type | 8-K |
| Filed Date | Dec 13, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $37.5 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement-termination, filing-update
TL;DR
Backblaze terminated a key deal, filing details today.
AI Summary
Backblaze, Inc. filed an 8-K on December 13, 2024, reporting the termination of a material definitive agreement as of December 10, 2024. The filing also includes financial statements and exhibits.
Why It Matters
The termination of a material definitive agreement could signal a significant shift in Backblaze's business relationships or strategic direction, potentially impacting future operations and financial performance.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement can indicate underlying business issues or strategic changes that may affect the company's future performance.
Key Players & Entities
- Backblaze, Inc. (company) — Registrant
- December 13, 2024 (date) — Filing Date
- December 10, 2024 (date) — Date of Earliest Event Reported
FAQ
What specific material definitive agreement was terminated by Backblaze, Inc.?
The filing does not specify the exact agreement terminated, only that a material definitive agreement was terminated as of December 10, 2024.
What are the implications of this termination for Backblaze's business operations?
The filing does not detail the specific implications, but the termination of a material agreement typically suggests a change in business relationships or strategy.
Are there any financial consequences reported due to this termination?
The filing does not explicitly state financial consequences related to the termination in the provided text.
When was the termination effective?
The termination was effective as of December 10, 2024.
What other information is included in this 8-K filing besides the termination notice?
The filing also includes financial statements and exhibits.
Filing Stats: 489 words · 2 min read · ~2 pages · Grade level 10.8 · Accepted 2024-12-13 17:21:05
Key Financial Figures
- $0.0001 — stered Class A Common Stock, par value $0.0001 per share BLZE The Nasdaq Stock Market
- $37.5 million — which the Company raised approximately $37.5 million in net proceeds (adjusted for underwrit
Filing Documents
- blze-20241210.htm (8-K) — 25KB
- 0001462056-24-000067.txt ( ) — 149KB
- blze-20241210.xsd (EX-101.SCH) — 2KB
- blze-20241210_lab.xml (EX-101.LAB) — 22KB
- blze-20241210_pre.xml (EX-101.PRE) — 13KB
- blze-20241210_htm.xml (XML) — 3KB
02 Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement. On December 10, 2024, Backblaze, Inc. (the "Company") voluntarily terminated its Loan and Security Agreement with City National Bank, dated October 21, 2021, as amended, which included a revolving line of credit that was 100% collateralized by cash held by the Company. At the time of termination, no amounts were outstanding under the revolving line of credit as the Company had fully paid down the revolving credit amount following the completion of its follow-on public offering in November 2024 in which the Company raised approximately $37.5 million in net proceeds (adjusted for underwriter discounts and commissions but before other fees and expenses).
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (formatted as Inline XBRL)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: 12/13/2024 Backblaze, Inc. By: /s/ Marc Suidan Marc Suidan, Chief Financial Officer