1.2 Million Shares of Common Stock Issued
MILPITAS, Calif., Aug. 22
Palm, Inc. (Nasdaq: PALM) today announced that it has completed an $18 million equity offering for 1.2 million shares of Palm common stock at $15 per share. The shares were issued today to an institutional investor through Palm's existing $200 million shelf registration on file with the Securities and Exchange Commission.
The proceeds will be used for general corporate purposes by the Palm, Inc. Solutions Group. Palm negotiated the transaction itself. The price represents a nominal discount over a 15-day volume-weighted average price.
Palm had approximately 29.3 million shares outstanding as of July 25, 2003.
About Palm, Inc.
Information about Palm, Inc. is available at http://www.palm.com.
SOURCE Palm, Inc.
|
