Blackberry has abandoned a plan to sell itself to its biggest shareholder, Fairfax Financial Holdings. Its shares fell 13% on the news.
In a new plan it it intends to raise $US1bn in fresh financing, the BBC reports.
Last month, the smartphone maker reported a second-quarter net loss of $US965m.
Those losses were blamed on poor sales of its new smartphone, the Z10.
Fairfax was planning to lead a consortium of firms in a takeover of Blackberry worth $4.7bn. But that plan, announced in October, has fallen through.
Last week, Reuters reported that Fairfax was struggling to raise the financing needed for the deal.
Instead, Fairfax, which owns a 10% stake in Blackberry, is contributing $250m to the new fund-raising.
In September, the company announced a plan to cut 4,500 jobs, or 40% of its workforce, to reverse substantial losses.
