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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Larry Brubaker who wrote (14237)9/3/1999 1:24:00 PM
From: Zeev Hed  Read Replies (2) of 27311
 
Larry, that is exactly what worries me, the new issue was at a discount (albeit small), and CC's lawyers may call these "exchanged securities" (cash for stock at a discount to market). It sure looks as if the intention was a convertible instrument, however, but you know the lawyers, they got ticking clocks and that word exchangeable could be the foot in the door for CC. On second thought, I think your interpretation is most probably correct.

Zeev
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