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SMALL BUSINESS
Palm adds 4 million shares in new public offering
AP ONLINE
posted: 61 DAYS 20 HOURS AGO
SUNNYVALE, Calif. (AP) — Palm Inc. on Wednesday raised the number of shares it will sell in a new public offering to 20 million from 16 million.
The smart phone maker said it has priced the offering at $16.25 per share and expects to make $313.1 million in proceeds.
Underwriters have a 30-day overallotment option to buy 3 million more shares at the offering price.
Palm shares rose 58 cents, or 3.4 percent, to $17.65 in premarket trading.
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