secwatch.observer — SEC 8-K summary
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Issuer:     BLACKBERRY Ltd (BB)
CIK:        0001070235
Form:       8-K
Filed at:   2023-11-17T23:59:59+00:00
Accession:  0001070235-23-000148
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BlackBerry repays $365M 2020 debentures, issues $150M new convertible notes to Fairfax at 1.75%
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- Repaid $365M principal of 1.75% unsecured convertible debentures due Nov 13, 2023; none converted.
- Issued $150M aggregate principal of new 1.75% extendible convertible debentures to Fairfax affiliates on private placement.
- New debentures mature Feb 15, 2024 (extendable to May 15, 2024), convertible at $6.00/share, ~64.8% premium to Nov 10 close.
- Fairfax, beneficially owning ~8% of BlackBerry shares, will hold up to 11.8% if fully converted; Prem Watsa recused from board vote.
- Subsidiaries BlackBerry Corporation and BlackBerry UK Limited guarantee the new debentures on a senior unsecured basis.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070235/000107023523000148/0001070235-23-000148-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070235/000107023523000148/bbry-20231113.htm
  HTML page:      https://secwatch.observer/filing/0001070235-23-000148

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