VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Larry Brubaker who wrote (13990)	8/26/1999 11:02:00 PM
From: Zeev Hed	Read Replies (2) of 27311

Larry, I do not have the documents before me, but if memory serves, CC also has an antidilution clause, namely if any private placement to buy shares occur under their "ceiling", they are entitled to the best price such other financing occur at. If the last one was at $5, the ceiling has just dropped a notch and if the next one is at $4, it goes even more. We have here a case of a floorless and dropping ceiling, quite an interesting combination. Zeev

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