US smartphone maker offers 20 million shares at a five per cent discount
Reuters reports on the issue, which had been anticipated in the stock market and accompanied by a 15 per cent rise in Palm's share price over the last five days.
The offer comprises 20 million common share priced at $16.25 each, which is a discount of five per cent on Tuesday's close.
The company, which launched the much-talked about Pre smartphone this year, hasn't revealed any specific plans for the funds raised.
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