FINWIRES · TerminalLIVE
FINWIRES

Update: Backblaze Shares Fall After $150 Million Convertible Senior Notes Offering

By

(Updates with the latest stock movement in the first paragraph and headline.)

Backblaze (BLZE) shares were down roughly 13% in Wednesday trading after the company said late Tuesday it plans to issue $150 million in convertible senior notes due 2031 through a private placement to institutional investors.

The company intends to offer a 13-day option for purchasers to acquire an additional $22.5 million to cover potential over-allotments, it added.

The cloud storage provider will allocate the net proceeds to finance capped call transactions, fund capital expenditures, and support general corporate operations while retaining the flexibility to settle future debt conversions in cash or equity, the company said.

Price: $16.79, Change: $-2.41, Percent Change: -12.55%

Related Articles

Wire

Virgin Australia's Velocity Frequent Flyer Receives ACCC Interim Authorization to Continue 7-Eleven Partnership

Virgin Australia's (ASX:VGN) Velocity Frequent Flyer loyalty program has received interim authorization from the Australian Competition and Consumer Commission (ACCC) to continue its retail earn partnership with 7-Eleven Stores and its franchisees, according to a Wednesday statement from the regulator.The authorization allows Velocity members to continue earning points when making purchases at 7-Eleven stores.The airline's shares fell past 1% in recent Wednesday trade.

ASX:VGN
Wire

Update: Mercury Systems Shares Fall After Fiscal Q4 Adjusted Earnings Miss

(Updates with stock price movement in the headline and the first paragraph.)Mercury Systems (MRCY) shares fell 11% during after-hours trading on Tuesday after the company posted lower-than-expected fiscal Q4 adjusted earnings.The company reported fiscal Q4 adjusted earnings late Tuesday of $0.37 per diluted share, down from $0.47 a year earlier.Analysts polled by FactSet expected $0.38.Revenue for the quarter ended July 3 rose to $289.8 million from $273.1 million a year earlier.Analysts expected $266.1 million.

$MRCY
Wire

Mercury Systems Fiscal Q4 Adjusted Earnings Fall, Revenue Rises

Mercury Systems (MRCY) reported fiscal Q4 adjusted earnings late Tuesday of $0.37 per diluted share, down from $0.47 a year earlier.Analysts polled by FactSet expected $0.38.Revenue for the quarter ended July 3 rose to $289.8 million from $273.1 million a year earlier.Analysts expected $266.1 million.

$MRCY