Printed from http://www.electronista.com

Palm boosts share offering to get $83.9m

updated 11:35 am EDT, Tue March 10, 2009

Palm Boosts Share Offering

Palm today said it would up the number of shares involved in its stock resale plan from 18.5 million shares to just over 23.1 million. Each share will have a going price of $6 and should boost Palm's revenue in the deal from its original $49 million to $83.9 million. Elevation Partners will still get $49 million to buy another 8.2 million shares at the same price as for the public deal.

The additional $34.9 million is potentially essential for Palm, which at last report had $220 million or less in cash reserves and has been consuming about $95 million to $100 million per quarter, which could render it bankrupt. The company is banking on the launch of its Pre touchscreen phone in the spring to stem its losses and turn the company around.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Fugoo Bluetooth speaker

It's rare to find a Bluetooth speaker that can cover a large array of needs. Generally, speakers are wrapped in a desktop-convenient d ...

Epson LW-600P

Label makers are traditionally simple machines that perform a single task which people feel they can either live with or without. In m ...

DXG IronX 5G9V HD action cam

Since the introduction of the GoPro, numerous action cams have come out of the woodwork to tackle the consumer need for camcorders tha ...

Sponsor

toggle

Most Commented

 
toggle

Popular News