Prem Watsa, Fairfax Officially Disclose Plans to Invest $1B More in BlackBerry

As it leaked a couple of days ago, Prem Watsa‘s fund Fairfax Financial Holdings, in a filing with the Securities and Exchange Commission, disclosed entering into an agreement with BlackBerry Ltd (NASDAQ:BBRY). Under the terms of the agreement, Fairfax and some other institutional investors will invest in the company via a $1 billion private placement of 6% unsecured debentures. The debentures can also be converted into Blackberry shares at a price of $10 apiece.

Prem Watsa

The full text of agreement can be read below:

Fairfax, Blackberry Agreement

Disclosure: none

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