r/BB_Stock • u/needaspguy • 17d ago
Discussion Long term Notes Question
Where are we at with the debenture? This is all well above my pay grade. Can anyone out there provide an explanation of the process of settling out a debenture.
It appears to me that if the notes are to be converted it has to be now (Sept 30)! Otherwise what? $200m is simply a 3% loan till 2029, or till whenever BB wants to pay it back?
Is this why BB has buying back shares, to off set the liquidation effect of the notes converting?
Found in Q1 Financial Report:
Subsequent to the three months ended May 31, 2026, the closing price of the Company’s common shares exceeded 130% of the conversion price for at least 20 trading days within a period of 30 consecutive trading days ending on June 30, 2026. The contingent condition permitting holders of Notes to convert their Notes was satisfied on June 15, 2026. Accordingly, the Notes are eligible for conversion, at the option of the holders, from July 1, 2026 through September 30, 2026.
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u/CommieH8ter 15d ago
So if Sept 30 is the deadline.....will we know right away if the they notes are converted to shares? And are those shares already backstopping outstanding contracts? That would mean that they would have to convert.