BLZE - Backblaze ditches dual-class structure of shares
2023-07-06 17:19:30 ET
-
Backblaze ( NASDAQ: BLZE ) has converted all of its Class B shares into Class A shares on a one-for-one basis to provide equal voting rights to all stockholders, the company said Thursday.
-
The company said it ditched the dual-class structure of its shares to become "shareholder-friendly" and improve corporate governance.
-
The conversion, which was approved by the shareholders, eliminated the different voting powers of the two classes of stock without affecting the economic rights of the holders of either stock.
-
The conversion was effective as of July 6, 2023.
For further details see:
Backblaze ditches dual-class structure of shares