The equity offering of 1.2 million shares of Palm’s common stock at $15.90 per share, comes just a week after the Milpitas, California-based company raised $18m by selling another block of 1.2 million shares. At the time, the unnamed institutional investor paid $15 per share based on a 15-day average.
The proceeds of both sales will go to Palm’s Solutions Group, which is to be renamed PalmOne when the OS group (PalmSource) becomes an independent company later this quarter.
Source: Computerwire
