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Elevation Partners

Palm secures additional equity investment, shares rise 13%

December 22nd, 2008

Palm announced today that the equity firm Elevation Partners has agreed to make a new investment in Palm that will total $100 million. Elevation Partners, who purchased 25% of Palm in September 2007, will purchase preferred stock that is convertible into Palm common stock at a price of $3.25 per share, a 31% increase over …