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Comments on: Palm Announces 'Remarketing' Capital Raising Plan

Palm RemarketingPalm, Inc. today announced, subject to market conditions, that it is exercising its right to remarket approximately 18.5 million common shares underlying 49% of the units of Series C preferred stock and warrants acquired by Elevation Partners in January 2009. In addition, the underwriters will have the right to purchase an additional 2.8 million common shares from Palm to cover over-allotments, if any.

If the remarketing is completed, Palm will receive all net proceeds in excess of $49 million, the original purchase price of the units. These proceeds would be used to strengthen Palm's working capital position and to further bolster the resources Palm is devoting to the launch of the Palm Pre and future product-development efforts.

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Palm made a LOT of filings today

SeldomVisitor @ 3/9/2009 12:28:21 PM # Q
One was, IMHO, a significant retraction of McNamee's spouts, another was a semi-retraction of some sort of email they sent out TODAY, one was the SEC filing about the new money, and one was all the "But-Be-Careful"-type words all by itself - they seem to be being EXTRA careful about those "We could crash and burn" boilerplate this time around.

RE: Palm made a LOT of filings today
hkklife @ 3/9/2009 12:35:10 PM # Q
How specifically (and to what extent) did they retract the McNamee spouts??

Another piece of decidedly non-SEC propaganda for you, SV:
http://blog.palm.com/palm/2009/03/palm-fans-say-the-darndest-things.html

Pilot 1000->Pilot 5000->PalmPilot Pro->IIIe->Vx->m505->T|T->T|T2->T|C->T|T3->T|T5->Zodiac 2->TX->Verizon Treo 700P->Verizon Treo 755p->?

RE: Palm made a LOT of filings today
SeldomVisitor @ 3/9/2009 12:43:21 PM # Q
hkklife wrote:
How specifically (and to what extent) did they retract the McNamee spouts??

http://tinyurl.com/palmretraction

RE: Palm made a LOT of filings today
Ryan @ 3/9/2009 12:57:29 PM # Q
The McNamee retractions/corrections are quite funny. I will do a post on these shortly.
RE: Palm made a LOT of filings today
SeldomVisitor @ 3/9/2009 1:02:57 PM # Q
Frankly, I'm awaiting the Palm retractions of the INITIAL words McNamee made at CES about a Pre that's so well programmed that it can email ahead when you're late for an appointment because it knows you're stuck in traffic and haven't just changed plans without updating the Pre's databases...

That ought to be a good retraction...probably Palm's Counsel pays attention to Bloomberg but not to, say, AllThingsDigital...

RE: Palm made a LOT of filings today
hkklife @ 3/9/2009 1:14:58 PM # Q
HYSTERICAL!!

Is it just me or are all signs starting to point to a more-likely-than-expected delay in the Pre's release or perhaps a neutered device that ships with a number of its features AWOL?


Pilot 1000->Pilot 5000->PalmPilot Pro->IIIe->Vx->m505->T|T->T|T2->T|C->T|T3->T|T5->Zodiac 2->TX->Verizon Treo 700P->Verizon Treo 755p->?

RE: Palm made a LOT of filings today
SeldomVisitor @ 3/9/2009 1:18:02 PM # Q
I haven't read anything yet that suggests to me anything other than "1st half 2009".

Of course, WHAT is "launched" "1st half 2009" is anyone's guess.

Time literally will tell...

RE: Palm made a LOT of filings today
hkklife @ 3/9/2009 1:25:42 PM # Q
I am sticking to my guns re: my earlier prediction on the "limited initial release" vs. a "widespread availability release" :
http://www.palminfocenter.com/comments/7044/#150495

Pilot 1000->Pilot 5000->PalmPilot Pro->IIIe->Vx->m505->T|T->T|T2->T|C->T|T3->T|T5->Zodiac 2->TX->Verizon Treo 700P->Verizon Treo 755p->?

RE: Palm made a LOT of filings today
freakout @ 3/9/2009 2:24:27 PM # Q
that's so well programmed that it can email ahead when you're late for an appointment because it knows you're stuck in traffic and haven't just changed plans without updating the Pre's databases...

That's not that difficult, you know. If the clock runs past the start time & the GPS indicates you've not arrived at the location of an appointment, an alarm would pop up on the dashboard and provide a "dismiss" (if you've changed your plans) or "contact" button (which would then likely offer you the option to contact anyone on the list of meeting participants).

That's what McNamee said: not that Pre would email ahead on its own, but that it would keep an eye on where you are and offer to send off an email if you were late. Totally feasible on any GPS-equipped smartphone with a calendar.

RE: Palm made a LOT of filings today
SeldomVisitor @ 3/9/2009 2:36:47 PM # Q
From:

http://kara.allthingsd.com/20090112/kara-talks-to-roger-mcnamee-about-the-palm-pre

== "...It has a clock, GPS, and it has your calendars. So it knows
== when you're late, it tells you, it can alert all the people you're
== going to see automatically...it runs faster than any other web
== device by a mile..."

I'll repeat - I'm awaiting Palm's retraction of these words, too (since they already did that for essentially-equivalent words on Bloomberg - see the already posted (twice?) contents of:

http://tinyurl.com/palmretraction

to see what they've done and STILL have to do...a-GAIN!)

RE: Palm made a LOT of filings today
freakout @ 3/9/2009 2:58:57 PM # Q
(since they already did that for essentially-equivalent words on Bloomberg)

That's a bit disingenous, SV. The filing you link to only says...

...it is premature to state the speed at which the device accesses the web or the relative speed of the Palm Pre compared to the smartphone products of competitors.

...and makes no mention at all of clock-calendar-GPS integration. Or anything "essentially equivalent".

I'll repeat - I'm awaiting Palm's retraction of these words, too

Don't hold your breath.

...actually, on second thoughts, please do!

RE: Palm made a LOT of filings today
SeldomVisitor @ 3/9/2009 3:50:53 PM # Q
freakout wrote:
(since they already did that for essentially-equivalent words on Bloomberg)

That's a bit disingenous, SV. The filing you link to only says...

...it is premature to state the speed at which the device accesses the web or the relative speed of the Palm Pre compared to the smartphone products of competitors.

== ...it runs faster than any other web device by a mile..."

---------------

Why are you argung the inarguable?

RE: Palm made a LOT of filings today
jca666us @ 3/9/2009 4:11:02 PM # Q
If he didn't argue the inarguable, he wouldn't be freak.
RE: Palm made a LOT of filings today
freakout @ 3/9/2009 4:19:20 PM # Q
Wow. Amazing you can't even read back to your own post SV, where you quoted:

"...It has a clock, GPS, and it has your calendars. So it knows when you're late, it tells you, it can alert all the people you're going to see automatically...it runs faster than any other web device by a mile..."

...and then went on to say "I'm awaiting Palm's retraction of these words, too (since they already did that for essentially-equivalent words on Bloomberg..."

Yep, that last sentence - "runs faster" - could be consided "equivalent". The rest? Nope. So again: please, keep waiting for the whole clock-calendar-GPS thing to be retracted. I eagerly look forward to your triumphant post when it is. (snort)

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how much cash?

jca666us @ 3/11/2009 5:54:45 PM # Q
if palm burns through their latest cash infusion and the pre isn't released, they might have to start selling office furniture on ebay.

http://tinyurl.com/bonrsy

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