BlackBerry completed its debt refinancing Tuesday, which left Fairfax Financial holding 90% of new 1.75% BlackBerry convertible debt. On the same day, Billionaire investor Prem Watsa, leader of Fairfax Financial Holdings, upped his stake in BlackBerry by 117.99%.
Fairfax Financial Holdings (Fairfax) has acquired control of $330M of 1.75% subordinated convertible debentures issued by BlackBerry, representing 90% of BlackBerry's private placement of $365M of the debentures that closed.
BlackBerry has received approval from the Department of Defense Information Network (DoDIN) for its BlackBerry Unified Endpoint Manager software (UEM). BlackBerry UEM is the only MDM solution on the DoDIN Approved Product List.
BlackBerry has completed the redemption of all of its 3.75% unsecured convertible debentures (TSX: BB.DB.V) (the "3.75% Debentures") on September 1, 2020. None of the 3.75% Debentures were converted into common shares of BlackBerry prior to redemption.
BlackBerry has announced the amendment of the indenture governing its outstanding 3.75% unsecured convertible debentures to permit the optional redemption of the 3.75% Debentures prior to November 13, 2020.
BlackBerry has hired Brian Yearwood as a new director of licensing. Yearwood will be responsible for patent licensing matters and the settlement of patent litigation through licensing. He will provide business/financial advice and preliminary damages analysis for patent litigation matters– delivered to the litigation team and plaintiff/client and work with external damages experts to prepare damages report for litigation matters.
BlackBerry Shareholder Dorsey R. Gardner has objected to BlackBerry's recently announced recapitalisation transactions, which he argues give rise to a clear conflict of interest as they involve Fairfax Financial Holdings Limited and certain of its affiliates (collectively, "Fairfax")
The BlackBerry Security Summit 2020 will be a virtual event this year due to the covid-19 epidemic and registration is now open. The Partner Summit will take place on October 5, while the ecurity Summit will take place on October 6 and 7.
BlackBerry has announced the IPU-03, an autonomous driving domain controller developed in conjunction with Desay SV Automotive, has been officially mass produced in the Xpeng P7, a super-long range, high-performance and fast-charging intelligent EV sports sedan from Xpeng Motors, one of China's leading electric vehicle and technology companies.
In a surprise announcement last week, it was revealed that BlackBerry is teaming up with startup OnwardMobility for a new 5G smartphone with physical keyboard and enhanced security.
Let's delve into our opinion of some of the mistakes that have been made in the past and whether lessons will be learned going forward.
BlackBerry has provided further details regarding the proposed refinancing of its outstanding US$605 million principal amount of 3.75% unsecured convertible debentures, which mature on November 13, 2020. BlackBerry announced the proposed refinancing on July 22, 2020, and intends to complete the transaction on September 1, 2020.
Despite it's many failures with their smartphones, it would appear that BlackBerry have not given up on producing smartphones. In a surprise announcement Wednesday, Startup OnwardMobility announced agreements with BlackBerry and FIH Mobile, a subsidiary of Foxconn, to deliver a new 5G BlackBerry Android smartphone with physical keyboard, in the first half of 2021 in North America and Europe.










