Home › DMW Daily › September 24, 2009

Palm to Increase Size of Offering; Expects $313.1 Million

Authored by Mark Hefflinger on September 24, 2009 - 5:47am.
Sunnyvale, Calif. - Smartphone maker Palm (NASD: PALM) has increased the size of its previously announced public offering, and now plans to sell 20 million shares at $16.25 each.

Upon closing, the company expects to receive net proceeds of approximately $313.1 million, using the proceeds for working capital and general corporate purposes.

The company suffered a setback earlier this week, when a USB standards group rejected its claim that Apple was hampering competition by not allowing its Pre smartphone to sync with iTunes, and instead said that Palm may in fact be violating Apple's rights.

 

Related Links:
http://investor.palm.com/releasedetail.cfm?ReleaseID=410971

http://snipurl.com/s3hi6 (DMW previous coverage)

Published in DMW Daily, September 24, 2009
tags: Deals | Mobile | Investments | Palm | Palm Pre |



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