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Handspring offers additional stock, receives Qualcomm investment

Wed Dec 19, 2001 - 12:15 PM EST - By Marcus Adolfsson

Handspring today announced the public offering of 7,000,000 shares of its common stock at a price to the public of $5.50 per share. The common stock was offered under the Handspring shelf registration statement that was declared effective by the SEC on December 12, 2001. The offering was sole managed by Credit Suisse First Boston.

Credit Suisse First Boston has a 30-day option to purchase a maximum of 1,050,000 additional shares to cover over-allotments of shares, if any.

A copy of the prospectus and the related prospectus supplement may be obtained from Credit Suisse First Boston Corporation, 11 Madison Avenue, New York, New York 10010-3629.

In addition, Handspring today announced that QUALCOMM has separately agreed to make an investment of $10 million in Handspring to purchase 1,838,945 shares of Handspring's common stock directly from Handspring in a non-underwritten transaction also under the shelf registration.

Handspring intends to use the net proceeds from the offerings for general corporate purposes, which may include capital expenditures and investments, and may also use a portion of the net proceeds to fund acquisitions of complementary businesses, products or technologies or to make strategic investments.


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