BlackBerry (BB) has released an update to notify the public and investors about the unregistered sales of equity securities.
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The summary of the text provided would be as follows: The Company has completed the offer and sale of the Notes to initial purchasers using an exemption from registration under Section 4(a)(2) of the Securities Act and Rule 144A for resale to qualified institutional buyers. This was based on representations from the initial purchasers. Furthermore, any Common Shares resulting from the conversion of the Notes are expected to be exempt from registration under Section 3(a)(9) of the Securities Act, and the Company has no plans to file a registration statement for the resale of the Notes or the convertible Common Shares.
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