It looks like BlackBerry is offering their debtors some more time to add up to another $250 million in convertible debentures to the company. This gives the Fairfax Financial consortium up to January 13th to add to their deal. That also means that they will be publishing their financials before they have to decide. Should be a wild ride! I really hope they managed to stabilize the balance sheet.
December 12, 2013
BlackBerry Extends Purchase Option Deadline for Additional Convertible Debentures
WATERLOO, ONTARIO–(Marketwired – Dec. 12, 2013) – BlackBerry Limited (NASDAQ:BBRY)(TSX:BB), a world leader in mobile communications, announced today that it has agreed with Fairfax Financial Holdings Limited and the holders of a requisite majority of the US$1 billion of convertible debentures issued by BlackBerry on November 13, 2013 that the previously-announced investor option to purchase up to an additional US$250 million principal amount of convertible debentures has been extended to January 13, 2014. If the option is exercised, the purchase of the additional convertible debentures will be completed on or before January 16, 2014.
BlackBerry has been in quiet period since the initial closing, and the extension will enable BlackBerry to provide updated financial information to prospective investors after its third quarter 2013 results have been publicly released on December 20, 2013.