BlackBerry prices $175M 3.00% convertible notes due 2029, upsized from $160M

BLACKBERRY Ltd

Offering upsized to $175M from $160M; initial purchasers option for additional $25M.
Conversion premium of ~32.5% over $2.93 close; initial conversion price ~$3.88/share.
Net proceeds ~$169.6M (~$194M if option exercised) to repay $150M 1.75% debentures due Feb 15, 2024.
Notes mature Feb 15, 2029; interest 3.00% semi-annual; redemption possible after Feb 22, 2027 under conditions.
Closing expected Jan 29, 2024, subject to TSX approval and customary conditions.

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