Backblaze, Inc. 8-K

What Happened On June 30, 2026, Backblaze, Inc. announced an amendment to the negative covenant in its existing credit agreement with Citizens Bank, N.A. The amendment expands the indebtedness threshold to permit the company to have up to $150 million of capital lease obligations outstanding. The amendment is filed as Exhibit 10.1 to the company’s Form 8-K (filed July 2, 2026).

Key Details

• Amendment date: June 30, 2026; Form 8-K filed July 2, 2026.
• Counterparty: Citizens Bank, N.A. (amendment to existing credit agreement).
• Change: Raises allowed capitalized lease indebtedness to up to $150,000,000.
• Filing: Full text of the Third Amendment to Credit Agreement is included as Exhibit 10.1.

Why It Matters This change gives Backblaze more contractual flexibility to finance equipment and facilities through capital leases (up to $150M) without breaching its credit agreement. For investors, that can affect the company’s reported debt mix, leverage ratios, and cash flow treatment (capital leases impact balance sheet and depreciation vs. operating leases). The amendment itself does not create new debt — it simply raises the limit — so investors should watch future filings for any actual increase in lease obligations or other changes to financial leverage.