Summary by Moomoo AI
On January 24, 2024, BlackBerry Limited announced the pricing of a private offering of $175 million in 3.00% Convertible Senior Notes due in 2029. The offering, initially set at $160 million, was upsized due to demand and is targeted at qualified institutional buyers. The notes, convertible into common shares at a premium of approximately 32.50% over the closing share price on the New York Stock Exchange, will mature on February 15, 2029, with interest payable semiannually. BlackBerry has also granted an option for the purchase of an additional $25 million in notes within a 13-day period. The closing of the offering is expected on January 29, 2024, pending customary conditions and Toronto Stock Exchange approval. The net proceeds, estimated at $169.6 million or $194.0 million if the additional notes are purchased, will be used...Show More