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

01-24-24 1050ET