Shares of BlackBerry fell in post-market trading on Tuesday after the company said it would sell $160 million of convertible senior notes due in 2029 in a private offering.
The stock was down 14% to $3.07 in after-hours trading, after a 1.4% decline at Tuesday’s close. Shares are up 2.1% since the start of the year.
The Canadian security software 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.