BLACKBERRY Ltd (BB): debt financing — BlackBerry closes $200M private offering of 3.00% Convertible Senior Notes due 2029

BLACKBERRY Ltd

Net proceeds ~$194M; $150M to repay 1.75% debentures due Feb 2024, rest for general corporate.
Initial conversion price ~$3.88 per share; max shares issuable upon conversion is 68,259,386.
Notes mature Feb 15, 2029; interest 3.00% payable semi-annually starting Aug 15, 2024.
Company may redeem notes on/after Feb 22, 2027 if stock price >=130% of conversion price for 20 of 30 days.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BLACKBERRY Ltd incurred convertible notes of $200.0 million aggregate principal amount with Computershare Trust Company, National Association at 3.00% per year maturing February 15, 2029.

Instrument: convertible notes
Principal: $200.0 million aggregate principal amount
Counterparty: Computershare Trust Company, National Association
Rate: 3.00% per year
Maturity: February 15, 2029
Event: incurrence

Exact text from the filing

completed its previously announced private unregistered offering of $200.0 million aggregate principal amount of its 3.00% Convertible Senior Notes due 2029

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BLACKBERRY Ltd entered into Indenture with Computershare Trust Company, National Association valued at $200.0 million aggregate principal amount of its 3.00% Convertible Senior Notes due 2029 (effective 2024-01-29).

Action: entry
Agreement: notes offering
Counterparty: Computershare Trust Company, National Association
Value: $200.0 million aggregate principal amount of its 3.00% Convertible Senior Notes due 2029
Effective: 2024-01-29

Exact text from the filing

The Notes were issued under an Indenture (the “Indenture”), dated as of January 29, 2024, by and between the Company and Computershare Trust Company, National Association, as trustee (the “Trustee”).

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283 debt financings filed in the last 30 days. Browse all debt financings →

BLACKBERRY Ltd filing history →

Source: SEC EDGAR

accession 0001104659-24-007718

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