U2 star's fund, Elevation Partners, pays out under a blood red sky. Possibly.
Elevation will take Series C preferred stock that is convertible into Palm common stock in the future. It already owns 25 per cent of Palm, having shelled out $325 million for the stake last year."The additional capital from Elevation Partners will enable us to put added momentum behind the new product introductions scheduled for 2009 and will provide us with enhanced stability in unsettled economic times," said Ed Colligan, CEO of Palm.
Advertisement
