Palm staying afloat until Pre release thanks to stocks

Palm staying afloat until Pre release thanks to stocks
Only the strong shall survive in this gloomy economy and it looks like Palm is going to do everything it can to stay afloat until the release of the Pre. Companies cannot continue their operating efforts without a solid flow of capital to sustain the business. In an attempt to gain more capital before it comes out, Palm is exercising its right to remarket shares held by private equity firm Elevation Partners. It looks like 18.5 million shares of its common stock, worth $105 million, will be remarketed to help pay off $49 million they owe Elevation Partners. Once that is taken care of, any net proceeds will go directly to strengthen Palm’s capital position for the inevitable launch of the Pre. It’s do or die now for the pioneering company that is looking to their new smart phone and platform to bring them back to the top. This move clearly signifies the importance of the survival of the company.

via: Mobileburn

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