We told you earlier that Fairfax financial was exercising their option to purchase another $250 million in debentures from BlackBerry on top of the original $1 million. BlackBerry just announced that the transaction has been completed and the money is in the bank. Details below:
January 16, 2014
BlackBerry Announces Completion of Acquisition of Additional U.S. $250 Million Debentures by Fairfax
WATERLOO, ONTARIO–(Marketwired – Jan. 16, 2014) – BlackBerry(R) Limited (NASDAQ:BBRY)(TSX:BB), a world leader in mobile communications, today announced the completion of the purchase by Fairfax Financial Holdings Limited, through its subsidiaries, of an additional U.S. $250 million principal amount of 6% unsecured subordinated convertible debentures of BlackBerry (the "Debentures"). The additional Debentures were purchased pursuant to the exercise of a previously-announced option that was granted in connection with BlackBerry’s private placement of U.S. $1 billion principal amount of Debentures on November 13, 2013.