Palm Elaborates on the HandSpring Merger & PalmSource Spinoff
Palm has filed a registration statement on Form S-4 with the Securities and Exchange Commission in connection with the PalmSource spinoff and the acquisition of Handspring. The document outlines the process and details about the PalmSource spinoff and the Handspring merger.
The full 550+ page S-4 filling can be found here. The document goes into detail great detail about the background of Palm Inc and the process for the final PalmSource spinoff and the HandSpring merger.
PalmSource will trade on the Nasdaq under the ticker "PSRC" with Palm owners receiving 0.34 shares of the software company for every share of Palm that they own.
Each holder of Handspring common stock will be entitled to receive 0.09 of a share of Palm common stock for each share of Handspring common stock. The merger is designed to create a stronger competitor in handheld computing and communication solutions. Palm Solutions will become better able to realize its stated objectives of growing the market, maintaining industry leadership, and achieving consistent profitability.
Palm expects the spinoff and acquisition process to be completed in the fall of 2003.
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