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Palm Sells Shares, Tons of Them

Fresh after finding out rumours about Nokia’s possible Palm buyout, the Pre maker’s stocks jumped, but another reason for that might be their decent financial results coupled with the good sales, due to the Pre model. Following these market changes, Palm started selling 20,000,000 stock shares, at $16.25 a piece.

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As a result of this transaction, Palm will get about $313.1 million, probably used to develop new products, make the webOS evolve or… simply pay off a few more former Apple employees to produce “novelty”.

[via IntoMobile]