Palm grabs $84m in stock sale

Prepping for Pre

Post a comment
Print

By Dawn Kawamoto, 11 March 2009 08:30

NEWS

Palm shares rose sharply in early morning trading Tuesday, after the smartphone maker increased the size of its secondary offering and netted $83.9m.

Palm resold 23.13 million shares, as part of a follow-on offering it announced the previous day. Although the company had initially anticipated offering only 18.5 million shares held by its investor Elevation Partners, Palm added more stock to the deal, which it priced at $6 per share.

Elevation received $49m from the offering, while Palm netted $83.9 million. Palm plans to use the proceeds for working capital, as well as for bolstering its resources for the launch of its highly anticipated Pre smartphone.

Post a comment
Print

Post your comment

In order to post a comment you need to be registered and logged in.

Latest Mobile stories

Featured white papers

Vulnerability Management Buyer's Checklist

Qualys

Key Questions to Ask Before You Select a VM Solution Choosing a solution for Vulnerability Management (VM) is a critical step toward protecting your organisation's network and data. Without proven, automated technology for precise detection and remediation, no network can withstand the daily onslaught of new vulnerabilities that threaten security. To help finalise your decision on which solution to buy, Qualys provides this 12-point short list of considerations that will help you determine what will work best for your organisation.

Download now »
Creating a Dynamic Infrastructure through Virtualization

IBM

In almost every case,the transformation to a dynamic infrastructure will involve virtualization.Many IT professionals think of virtualization specifically in terms of servers.IBM,however,has a broader perspective,in which virtualization is seen as a generalapproach to decouple logical resources from physical elements,so that thoseresources can be allocated faster,more cost-effectively and more dynamically,wherever the business requires them in real time to ideally meet changingdemand levels or business requirements.

Download now »
How IP geolocation can improve your website experience and marketing activity

Quova

With geolocation technology, you can know a web user's real world whereabouts. This report examines the benefits from the fictional retailer's point of view. Things-4-You- a thriving online business, which had a poor record in converting online visitors into buying customers. Things-4-You demonstrates the potential of IP geolocation online. retailers.

Download now »