Handspring IPOs, raised $200m
Full public trading opens today
Palm licensee Handspring raised $200 million yesterday when it launched itself as a publicly owned company.
The company sold ten million shares at $20 apiece, just over the $17-19 range it had previously predicted in filings with the US Securities and Exchange Commission. That range was itself earlier downgraded from $19-22.
Handspring's shares will begin trading on Nasdaq today, and it will be interesting to see what heights HAND shares reach. Palm IPO'd at $38 last March, but shot up to $165 on the first day of trading. Wall Street's downer on hi-tech stocks has since brought the price down to 27.125, a fall that prompted Handspring's cautious pricing policy.
As of 9:30AM EST, Handspring was trading at 14.1875. ®