TITLE

Elevation Doubles Down on Palm

AUTHOR(S)
Schachter, Ken
PUB. DATE
December 2008
SOURCE
Red Herring;12/22/2008, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the increase in the shares of Palm Inc. following announcement that its private equity backer, Elevation Partners, had agreed to pump an additional $100 million into the company. Elevation previously had amassed 325,000 shares of Palm convertible preferred. The new investment also will give Elevation warrants that could be converted to common stock at $3.25. Palm has lost market share to Apple's iPhone, Research In Motion's BlackBerry line and phones using Google's Android operating system.
ACCESSION #
36602812

 

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