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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: The Vet who wrote (14181)9/2/1999 5:34:00 PM
From: Larry Brubaker   of 27311
 
Yes, the vet, that is certainly a possibility. However, if they decided to cover (an assumed) 1 million plus shares in the open market, they would quickly lose their best price. IMO, they would get a far better price to cover through conversion rather than going into the open market.

Remember also, they always have the right to purchase a substantial number of warrants at a fixed price to guarantee a profit on any significant up move.

Also, if they did decide to cover their shorts in the market (in order to retain their preferred shares for an upside move), I doubt they would convert the preferred into common until they are ready to sell. They still earn interst on the preferred shares.
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