FRFFF FAIRFAX FINANCIAL HOLDINGS LTD/ CAN
Price Chart
Executive Summary
Fairfax Financial converted $150M principal of Orla Mining convertible notes into 26.6M common shares at C$7.90/share, increasing its stake from ~9.2% to ~15.7% (non-diluted) of Orla. Fairfax also holds 17.5M warrants exercisable at C$11.50, bringing its fully diluted position to ~19.5%. This is a material increase in Fairfax's ownership and signals strong conviction in Orla's prospects.
Actionable Insight
Fairfax's aggressive accumulation (now ~19.5% fully diluted) suggests potential strategic moves — watch for an early warning report on SEDAR+ and possible board discussions. Orla's stock may see upward pressure from Fairfax's increased ownership and the removal of convertible note overhang.
Key Facts
- Fairfax converted $150M principal of Orla convertible notes into 26,582,275 common shares at C$7.90/share.
- Conversion shares represent ~7.1% of Orla's outstanding common shares.
- Fairfax now holds 58,399,504 common shares and 17,544,302 warrants (C$11.50 exercise price).
- Total ownership: ~15.7% non-diluted, ~19.5% partially diluted (assuming warrant exercise).
- Prior to conversion, Fairfax owned 31,817,229 common shares, $150M notes, and 17,544,302 warrants (~9.2% non-diluted, ~19.5% partially diluted).
- Fairfax states it holds the securities for investment purposes and may discuss strategic transactions with Orla's management/board.
Financial Impact
Fairfax deployed $150M in note conversion, increasing its Orla stake by ~7.1% of outstanding shares. No cash outlay beyond the existing note position.
Risk Factors
- Orla's share price could decline if Fairfax reduces its position or if mining operations disappoint.
- Warrant overhang (17.5M shares at C$11.50) may cap upside if exercised.
- Regulatory or shareholder pushback if Fairfax seeks board representation or a control transaction.
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-071204 |
| Document: tm2617110d1_ex99-1.htm | 0001104659-26-071204 |
| Document: 0001104659-26-071204-index-headers.html | 0001104659-26-071204 |
| Document: 0001104659-26-071204-index.html | 0001104659-26-071204 |
| Document: 0001104659-26-071204.txt | 0001104659-26-071204 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 8, 2026
8d ago
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6-K
| $18.18 $17.98 | ▼ −1.09% | ▼ −2.89% | $17.98 (−1.09%) |
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Jun 8, 2026
8d ago
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6-K
| $18.18 $17.98 | ▼ −1.09% | ▼ −3.20% | $17.98 (−1.09%) |
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Jun 5, 2026
11d ago
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6-K
| $18.18 $17.98 | ▼ −1.09% | ▼ −3.20% | $17.98 (−1.09%) |
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Jun 1, 2026
15d ago
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6-K
| $18.50 $18.18 | ▼ −1.74% | ▲ +1.23% | $17.98 (−2.81%) |
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May 29, 2026
18d ago
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6-K
| $18.50 $18.50 | · 0.00% | ▲ +2.75% | $17.98 (−2.81%) |
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Apr 29, 2026
6w ago
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6-K
| $18.40 $18.94 | ▲ +2.93% | ▲ +1.21% | $17.98 (−2.28%) |
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Apr 6, 2026
10w ago
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6-K
| $18.73 $18.73 | · 0.00% | ▼ −4.13% | $17.98 (−3.99%) |
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