Qualcomm to make $10 mln investment in Handspring

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Qualcomm to make $10 mln investment in Handspring Source: Reuters URL: http://investor.cnet.com/investor/news/newsitem/0-9900-1028-8229803-0.html MOUNTAIN VIEW, Calif, Dec 19 (Reuters) – Handspring Inc. , maker of the Visor personal digital assistant (PDA), on Wednesday said it would offer 7 million shares of its common stock $5.50 per share and, separately, said Qualcomm Inc. agreed to invest $10 million in the company. The common stock sale, managed by Credit Suisse First Boston, comes under the company’s shelf registration statement the Securities and Exchange Commission said was effective on Dec. 12, 2001. Credit Suisse has a 30-day option to purchase up to 1.05 additional shares to cover overallotments. In the second deal, Qualcomm, the San Diego-based wireless technology giant, will receive 1,838,945 shares of Handspring for the $10 million investment, whose net proceeds Handspring will use for general corporate purposes, including capital expenditures and investments and acquisitions. Handspring said the Qualcomm deal is not underwritten and also is under the shelf registration.

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