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Nasdaq-listed shares of BlackBerry resumed trading nearly flat on Friday afternoon, after they were halted as the company announced it would make a change to its debt.
Trading on the stock was earlier halted in Toronto and on the Nasdaq as BlackBerry announced a convertible debenture redemption and issuance.
"The restructuring of our convertible debt will enable us to significantly reduce our interest expense and potential future dilution for our shareholders," CEO John Chen said in a statement. "I am pleased that Fairfax will continue as BlackBerry's leading lender, reinforcing its ongoing commitment to the company as we continue to execute on our strategy of pursuing growth and sustainable profitability."
Trading halts are implemented to ensure a "fair and orderly market," according to the Investment Industry Regulatory Organization of Canada.
The company's Nasdaq-listed shares are down about 14.7 percent year to date.
The Ontario mobile phone and software company has faced challenges in the evolving smartphone market. It has recently pivoted to focus more on software, and doubled its software revenue on a year-over-year in the first fiscal quarter.