---
schema_version: "secwatch.filing_event.v1"
accession: "0001070235-23-000148"
form_type: "8-K"
ticker: "BB"
cik: "0001070235"
company_name: "BLACKBERRY Ltd"
filed_at: "2023-11-17T23:59:59+00:00"
generated_at: "2026-06-07T23:49:41.208304+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# BlackBerry repays $365M 2020 debentures, issues $150M new convertible notes to Fairfax at 1.75%

## Summary
- Repaid $365M principal of 1.75% unsecured convertible debentures due Nov 13, 2023; none converted.
- Issued $150M aggregate principal of new 1.75% extendible convertible debentures to Fairfax affiliates on private placement.
- New debentures mature Feb 15, 2024 (extendable to May 15, 2024), convertible at $6.00/share, ~64.8% premium to Nov 10 close.
- Fairfax, beneficially owning ~8% of BlackBerry shares, will hold up to 11.8% if fully converted; Prem Watsa recused from board vote.
- Subsidiaries BlackBerry Corporation and BlackBerry UK Limited guarantee the new debentures on a senior unsecured basis.

## SEC filing metadata
- accession: 0001070235-23-000148
- form_type: 8-K
- ticker: BB
- cik: 0001070235
- company_name: BLACKBERRY Ltd
- filed_at: 2023-11-17T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1070235/000107023523000148/0001070235-23-000148-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1070235/000107023523000148/bbry-20231113.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001070235-23-000148
- JSON: https://secwatch.observer/filing/0001070235-23-000148.json
- Plain text: https://secwatch.observer/filing/0001070235-23-000148.txt

## Key facts
- Debt Financings
  BLACKBERRY Ltd incurred convertible notes of $150 million aggregate principal amount with controlled affiliates of Fairfax Financial Holdings Limited at 1.75% per annum maturing February 15, 2024 (the Initial Maturity Date), with an option to extend to May 15, 2024.
  - Instrument: convertible notes
  - Principal: $150 million aggregate principal amount
  - Counterparty: controlled affiliates of Fairfax Financial Holdings Limited
  - Rate: 1.75% per annum
  - Maturity: February 15, 2024 (the Initial Maturity Date), with an option to extend to May 15, 2024
  - Event: incurrence
  source text: on November 17, 2023, the Company issued $150 million aggregate principal amount of its 1.75% extendible convertible unsecured debentures (the "Extension Debentures") to the Purchasers on a private placement basis
  evidence_url: https://www.sec.gov/Archives/edgar/data/1070235/000107023523000148/0001070235-23-000148-index.htm
- Material Agreements
  BLACKBERRY Ltd entered into Subscription Agreement with certain controlled affiliates of Fairfax Financial Holdings Limited valued at $150 million aggregate principal amount of its 1.75% extendible convertible unsecured debentures (effective 2023-11-13).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: certain controlled affiliates of Fairfax Financial Holdings Limited
  - Value: $150 million aggregate principal amount of its 1.75% extendible convertible unsecured debentures
  - Effective: 2023-11-13
  source text: On November 13, 2023, BlackBerry Limited (the “Company”) entered into a subscription agreement (the “Subscription Agreement”) with certain controlled affiliates of Fairfax Financial Holdings Limited, as purchasers (the “Purchasers”), pursuant to which, on November 17, 2023, the Company issued $150 million aggregate principal amount of its 1.75% extendible convertible unsecured debentures (the “Extension Debentures”) to the Purchasers on a private placement basis.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1070235/000107023523000148/0001070235-23-000148-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.