Blackberry used to be among some of the biggest names when it comes to the markets of smartphone technology. However, this once-huge company has now been going through a rather tough time. They have lost out on a lot of market goodwill, and are barely surviving in the markets. The company has managed to stay afloat in the markets even during the hardest of times. Over the years there have been rumors that surround the sale of this company time and again. However, these just remain to be rumors, as the company still stands on its own two feet.

The BlackBerry logo is pictured at the BlackBerry campus in Waterloo September 23, 2013. REUTERS/Mark Blinch (CANADA - Tags: BUSINESS LOGO TELECOMS)

The company is now working on plans to raise major capital. Blackberry plans to raise $605 Million by selling convertible debentures to their shareholders, a majority of which go to Fairfax Financial Holdings. Based on the reports, the company will also be working towards redeeming nearly $1.25 billion worth of outstanding debentures carrying a coupon of 6 percent, by the 2nd of September. Additionally, the new debt that BlackBerry plans to issue will have a coupon of 3.75 percent and will be due in November 2020.

Fairfax Financial Holdings, owned by Prem Watsa, is the second largest investor for Blackberry. They hold a stake of 8.9% in the company. The company is now working on a plan of turning around their fortunes and aiming for the top once again. The company has stopped creating smartphones that are not generating money for them, and is working towards new, Android devices.

The company came out with the Blackberry Priv last year. The device was well appreciated but did not make a major impact on the market owing to its price. However, it did have a major role in helping the company stay alive in the markets. With the DTEK50, and more Android devices planned in the future, Blackberry is indeed on the road to recovery!