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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Rich Wolf who wrote (12906)7/7/1999 8:53:00 PM
From: Pallisard  Read Replies (2) of 27311
 
Rich, as I recall the terms of the CC financing, they are allowed to convert at a price equivalent to the average of the previous 10 consecutive closings. If that's so, wouldn't it behoove Valence to "accumulate" in some fashion, some positive PR and start releasing it at the beginning of the 10 day period? I could envision, for example, an agreement with an OEM to SIGN a contract that had already been agreed to verbally, on the day before the period began, thus inflating the price. Does that make sense?
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