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Investor Just Can't Quit Palm

Stock quotes in this article: PALM , RIMM , AAPL , GOOG  

Updated from 11:54 a.m. EST

SAN FRANCISCO -- In for a penny, in for ... billions of more pennies.

Palm(PALM Quote) announced Monday that sugar-daddy investor Elevation Partners, which bought a 27% stake last year in the struggling smartphone maker, has re-upped with another $100 million cash infusion.

Under the agreement, Elevation will buy new preferred shares that are convertible into Palm common shares at $3.25 each. Elevation also gets warrants to buy 7 million common shares at that same price. ...

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