Palm, one of the earliest and most influential PDA developers, has been struggling to stay afloat until the official release of its much-anticipated Pre smartphone for Sprint. In a surprising move, the company has announced that it will be releasing 18.5 million shares of its common stock onto the market.
Until now these shares had been secured to a prior investment made by Elevation Partners. The $105 million proceeds from the sale of the stock will first be used to pay off the $49 million owed to Elevations Partners while the remaining funds will go back to Palm to help fatten up its cash position in these tough economic times.
This latest development comes at a time when Palm is readying final preparations on its Pre for sale on the Sprint network by the end of the second quarter. Palm's investors remain extremely optimistic about the Pre's chance for success in a flooded market, however. In fact Roger McNamee, one of the cofounders of the investment firm Elevation Partners maintains that the Pre will offer serious competition to Apple's iPhone and RIM's Blackberry line.
October 13th, 2009 at 1:16 am
thank you for this post.
October 13th, 2009 at 9:21 am
thank you.good article
October 20th, 2009 at 11:23 pm
thank you very good
October 22nd, 2009 at 2:27 am
Çok güzel bir site te?ekkürler
October 22nd, 2009 at 11:14 pm
bilgi yar??mas?
October 27th, 2009 at 6:00 am
ödüllü yarisma
November 6th, 2009 at 6:34 am
A?k ve Sevgi Resimleri
November 17th, 2009 at 12:43 am
kalp krizinin nedenleri
November 18th, 2009 at 11:46 pm
sagopa kajmer sarki dinle
December 9th, 2010 at 2:16 am
Yeah! their can be a strong competition between the corporate cellular mobile phone models of different companies but I don’t think so that it will be easy to cross the iphone it is rocking everywhere.