[NEWS] Palm Loads up on Cash, Elevation Loads up on Stock - Wckediden

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[NEWS] Palm Loads up on Cash, Elevation Loads up on Stock

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09-26-2009, 01:48 PM

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Palm Loads up on Cash, Elevation Loads up on Stock

After Palm announced the price of their new public stock offering, $16.25 per share, it looks like Elevation Partners and its directors have been busy buying it up, thestockmasters.com notes:

(Palm CEO Jon Rubinstein also made some stock moves.)
Meanwhile, Palm exercised an over-allotment option for the underwriters to purchase an additional 3 millions shares of common stock, which "brings the expected net proceeds of the public offering to $359.9 million."
Try not to let your eyes glaze over too much, the bottom line is that it's a heap of cash for a company that's been hungry for it. They intend to use it "for working capital and general corporate purposes," which to us sound like they have a plan and they're executing against it.

originally found here:

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http://www.precentral.net/elevation-partners-its-directors-are-loading-palm-stock

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cash, elevation, loads, palm, stock

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