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BlackBerry | 8-K: BlackBerry Announces $200 Million Convertible Senior Notes Offering

SEC announcement ·  Jan 29 16:10
Summary by Moomoo AI
On January 29, 2024, BlackBerry Limited completed a private offering of $200 million in 3.00% Convertible Senior Notes due in 2029, including the exercise of an option for an additional $25 million in Notes. The offering was conducted under an Indenture between BlackBerry and Computershare Trust Company, National Association, as trustee. The Notes, which will mature on February 15, 2029, will pay interest semi-annually and are not redeemable by the company before February 22, 2027, except under specific tax law changes. BlackBerry intends to use the $194 million net proceeds to repay existing debentures and for general corporate purposes. The Notes are convertible under certain conditions, and the conversion rate is initially set at 257.5826 Common Shares per $1,000 principal amount of Notes, subject to adjustments. The company may issue a maximum of 68,259,386 Common Shares upon conversion of the Notes. In the event of a fundamental change, BlackBerry may be required to repurchase the Notes. The offering and sale of the Notes were made in reliance on exemptions from registration under the Securities Act of 1933.
On January 29, 2024, BlackBerry Limited completed a private offering of $200 million in 3.00% Convertible Senior Notes due in 2029, including the exercise of an option for an additional $25 million in Notes. The offering was conducted under an Indenture between BlackBerry and Computershare Trust Company, National Association, as trustee. The Notes, which will mature on February 15, 2029, will pay interest semi-annually and are not redeemable by the company before February 22, 2027, except under specific tax law changes. BlackBerry intends to use the $194 million net proceeds to repay existing debentures and for general corporate purposes. The Notes are convertible under certain conditions, and the conversion rate is initially set at 257.5826 Common Shares per $1,000 principal amount of Notes, subject to adjustments. The company may issue a maximum of 68,259,386 Common Shares upon conversion of the Notes. In the event of a fundamental change, BlackBerry may be required to repurchase the Notes. The offering and sale of the Notes were made in reliance on exemptions from registration under the Securities Act of 1933.
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