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Palm issues, sells shares for $19.1m

Follows last week's $18m issue

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Palm sold $19.1 million worth of shares on Friday, just a week after offloading $18 million.

In both cases, Palm sold 1.2 million shares - all of them freshly issued common stock - in the first instance at $15 a pop to a single unnamed institutional investor, and this time round at a price of $15.90 per share to a number of unnamed institutional investors.

Both prices attracted a "nominal" volume discount over their respected 15- and ten-day volume-weighted average prices.

The proceeds of both sales go to Palm's Solutions Group, to be renamed PalmOne when the OS group, PalmSource, becomes an independent company later this quarter. ®

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