BlackBerry Limited
BlackBerry Completes Private Offering of $200M Convertible Senior Notes
Summary
On January 29, 2024, BlackBerry Limited announced the completion of its private unregistered offering of $200 million aggregate principal amount of its 3.00% Convertible Senior Notes due 2029. The Notes include the full exercise of the initial purchasers' option to purchase up to $25 million additional Notes. The Company intends to use the net proceeds to repay its $150 million 1.75% Extendible Convertible Unsecured Debentures and for general corporate purposes. The Convertible Notes were issued under an Indenture and bear interest at a rate of 3.00% per year, payable semi-annually, with maturity on February 15, 2029. The initial conversion rate is 257.5826 Common Shares per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $3.88 per share.
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About BlackBerry Limited
BlackBerry Limited is a multinational company known for its pivotal role in the evolution of mobile communication. Initially renowned for its pioneering smartphones, BlackBerry has transitioned into a leader in the cybersecurity and software industry. The company's primary function now focuses on providing comprehensive security solutions and software services, which are crucial for the IT infrastructure of businesses worldwide. BlackBerry's products include enterprise software, internet of things (IoT) technology, and cybersecurity consultancy services, targeting sectors such as automotive, healthcare, and government. With a robust portfolio in end-to-end security and embedded systems, BlackBerry plays a crucial role in securing data and communications across various digital platforms. Headquartered in Waterloo, Ontario, Canada, the company has refocused its efforts on innovation within the tech industry, emphasizing privacy, safety, and cybersecurity in today's interconnected world. This transition underscores its sustained market significance as a trusted partner for business technological solutions.
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