Although Blackberry Z30 smartphone fails to impress, but Blackberry still completes its previously-announced US $1 billion investment on Wednesday.
Blackberry has announced on Wednesday that it has completed the US $1 billion investment. The Canadian firm has announced previously to sale US $1 billion debentures to private companies. Yesterday, Blackberry completes this private placement of US $1 billion convertible debentures to Fairfax and other institutional investors.
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The sole book runner and placement agent for the private placement of the Blackberry debentures is BMO Capital Markets. Blackberry is also offering investors additional U.S. $250 million debentures for purchase within 30 days.
As the financing completes, John S. Chen becomes the BlackBerry's Executive Chair and Interim CEO. He said, "I am excited to be joining this iconic brand at such an important moment in its history. I look forward to leading the company through a successful transformation and restoring BlackBerry's position as an innovative, successful company. I believe in the value of this brand and am confident we will rebuild BlackBerry for the benefit of all of our constituencies."