Back in December BlackBerry announced they would be extending the purchase option deadline for additional convertible debentures. Today, the company has announced that Fairfax Financial Holdings Limited has agreed to purchase an additional $250,000,000 principal amount of 6% unsecured subordinated convertible debenture through its subsidiaries. The transaction will be completed on or before January 16, 2014.

Press Release

Fairfax to Purchase Additional Convertible Debentures​

WATERLOO, ONTARIO--(Marketwired - Jan. 8, 2014) - BlackBerry(R) Limited (NASDAQ:BBRY)(TSX:BB), a world leader in mobile communications, announced today that Fairfax Financial Holdings Limited has agreed to purchase, through its subsidiaries, an additional $250,000,000 principal amount of 6% unsecured subordinated convertible debentures of BlackBerry (the "Debentures"). The additional Debentures will be purchased pursuant to the exercise of a previously-announced option that was granted in connection with BlackBerry's private placement of $1 billion principal amount of Debentures on November 13, 2013, and the transaction will be completed on or before January 16, 2014.