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Palm Sets Public Offering Price
 On Wednesday, Palm announced that it increased the size of its previously announced public offering of common stock to 20,000,000 shares. The public offering price of $16.25 per share, seems to indicate strong demand.
The underwriters (Goldman Sachs, J.P. Morgan and RBC Capital) have a 30-day over-allotment option to purchase 3,000,000 additional shares of common stock from Palm at the public offering price. Upon the closing of the offering, Palm will receive net proceeds of approximately $313.1 million, assuming no exercise of the underwriters' over-allotment option.
As noted by ZDNet's Larry Dignan, when Palm delivered its first quarter results last week, shares bounced around in the $14 to $15 range.
"All things considered, Palm's pricing (statement) was about as good as it gets."
The additional $313 million will come in handy as Palm rolls out more webOS devices.
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