BlackBerry's Toronto-Listed Shares Down 16% on $160 Million Convertible Notes Offering
Provided by
Dow Jones
By Adriano Marchese
Toronto-listed shares of BlackBerry were down sharply Wednesday morning after the company said it would sell $160 million of convertible senior notes in a private offering.
At 10:25 a.m. ET, shares were down 16% to 4.03 Canadian dollars ($2.99).
The Canadian cybersecurity company said it would use proceeds from the offering to repay or buyback its outstanding $150 million aggregate principal amount of 1.75% unsecured debentures due Feb. 15.
The new notes would be due in 2029.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
January 24, 2024 10:50 ET (15:50 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks
United States