“Palm Inc. will exercise its right to remarket shares held by private equity firm Elevation Partners, in an attempt to bolster its capital ahead of the launch of its new Pre smartphone,” Ritsuko Ando reports for Reuters.

“The company said on Monday it would remarket 18.5 million common shares that underlie preferred shares and warrant units held by Elevation Partners. Based on current market prices, the shares are worth about $105 million,” Ando reports. “Elevation will recoup the $49 million it originally paid for the units, and Palm will receive all net proceeds in excess of $49 million, the company said.”

Full article here.

MacDailyNews Take: We have a few questions for Palm:
• How much is that “Pre” going to cost?
• Will there be an injunction against sales of the “Pre” due to possible patent infringement?
• How many units will you really sell with beleaguered Sprint as your partner, provided there is no injunction?
• How will you attract developers with yet another mobile platform; especially as you’ll have no meaningful number of devices on the market for quite some time, if ever?
• Can you convince us that all of this “Pre” business is nothing more than the screaming sham that we suspect to to be?
• Or are you guys at Palm and Elevation Partners really so delusional as to actually believe your own B.S.?
• Does your company really have a future?
• Or is this how a company dies?
• Is your company more than a giant neon billboard repeatedly flashing “Pre” in an attempt to hide a corpse?
• Or is this just a cynical attempt to squeeze the last bits of cash out of a failed company before it ceases to exist?