Updated conversion information.
CC has converted 3000 out of the 7500 Series B preferred shares, leaving 4500 shares outstanding
(unless they have converted more since the partial conversion announcement by Valence last week).
This is the conversion information for the remaining 4500 preferred
shares as of Friday's close:
Date Bid Conv Price Shares
3-Sep 4.6875 Stale on Friday, and drops out before noon ET Monday.
7-Sep 4.8750
8-Sep 5.6250 4.4240 1,070,000
9-Sep 5.3750 4.4240 1,070,000
10-Sep 5.2500 4.4556 1,060,000
13-Sep 5.7500 4.5503 1,040,000
14-Sep 6.0625 4.7028 1,000,000
15-Sep 5.9375 4.8817 966,000
16-Sep 5.5625 5.1026 924,000
17-Sep 5.5000 5.2604 897,000
The current conversion price is 5.26 which expires one minute before noon ET Monday.
If the closing bid price remains at 5.50 on Monday, then the new conversion price will be 5.40,
convertible into 874,000 shares.
Paul |
