Betting Big: Fairfax is Going to Invest Another $250 Million in BlackBerry

Posted by Knowlton Thomas

Fairfax Financial today revealed that it is purchasing through subsidiaries an additional $250 million worth of unsecured subordinated convertible debentures of BlackBerry.

Fairfax already invested that amount in BlackBerry last November alongside other investors who combined in a move that saw the Waterloo-based smartphone maker raise $1 billion.

Fairfax is run by Prem Watsa, who is BlackBerry's largest shareholder. He recently bought $1 million worth of shares, boosting his already high stake in the company to more than 51 million shares—double that of anyone else.

The additional Debentures will be purchased pursuant to the exercise of a previously-announced option that was granted in connection with BlackBerry's private placement of $1 billion principal amount of Debentures on November 13, 2013, and the transaction will be completed on or before January 16, 2014.

Company:
BlackBerry
Website:
http://www.blackberry.com
Location:
Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry solution in 1999. Since then, BlackBerry products and services have continued to change the way millions of people around the world stay connected. With the launch of BlackBerry 10, we have re-designed, re-engineered and re-invented BlackBerry. Not only did we introduce a... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis or otherwise enjoying the outdoors. more



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