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BlackBerry | 8-K: BlackBerry Announces Proposed Private Offering of $160 Million of Convertible Senior Notes

SEC announcement ·  Jan 23 00:00
Summary by Moomoo AI
On January 23, 2024, BlackBerry Limited announced its plan to offer $160 million in Convertible Senior Notes due in 2029 through a private offering, subject to market and other conditions. The offering is targeted exclusively at qualified institutional buyers as per Rule 144A under the Securities Act of 1933, with exemptions in Canada and other jurisdictions. BlackBerry also plans to provide an option for the initial purchasers to acquire an additional $25 million of the notes within a 13-day period from the issuance date. The proceeds from the sale are intended to fund the repayment or repurchase of BlackBerry's existing $150 million 1.75% extendible convertible unsecured debentures due February 15, 2024, with any remaining funds allocated for general corporate purposes. The notes, which will rank senior to the existing debentures...Show More
On January 23, 2024, BlackBerry Limited announced its plan to offer $160 million in Convertible Senior Notes due in 2029 through a private offering, subject to market and other conditions. The offering is targeted exclusively at qualified institutional buyers as per Rule 144A under the Securities Act of 1933, with exemptions in Canada and other jurisdictions. BlackBerry also plans to provide an option for the initial purchasers to acquire an additional $25 million of the notes within a 13-day period from the issuance date. The proceeds from the sale are intended to fund the repayment or repurchase of BlackBerry's existing $150 million 1.75% extendible convertible unsecured debentures due February 15, 2024, with any remaining funds allocated for general corporate purposes. The notes, which will rank senior to the existing debentures, may be converted into cash, BlackBerry common shares, or a combination thereof, at BlackBerry's discretion. The terms of the notes, including the interest rate and initial conversion rate, will be determined at the time of the offering's pricing. The completion of the offering is contingent upon customary conditions and approval from the Toronto Stock Exchange. The securities involved in this offering have not been registered under the Securities Act or any state securities laws and, unless subsequently registered, may only be sold in transactions exempt from registration requirements.

This announcement is a separate document:

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