05:42 PM EST, 11/20/2024 (MT Newswires) -- Backblaze ( BLZE ) said late Wednesday it plans a $30 million follow-on public offering of its class A common shares.

The company said it expects to grant a 30-day overallotment option to the underwriters to acquire up to $4.5 million of additional shares.

Backblaze ( BLZE ) shares were down 7.7% in after-hours activity.

Price: 5.75, Change: -0.48, Percent Change: -7.71