Paul:
Looks like you were right that CC would convert within two weeks! Doug
******
VALENCE TECHNOLOGY ANNOUNCES CONVERSION OF CONVERTIBLE STOCK
HENDERSON, Nev., Oct 22, 1999 /PRNewswire via COMTEX/ -- Valence
Technology, Inc. (Nasdaq: VLNC), a developer of advanced rechargeable
lithium polymer battery technology, today announced that Castle Creek
Investments, LDC has elected to convert 7,500 shares of Valence's
Series A Convertible Participating Preferred Stock to Valence
Technology common stock, including the cumulated Preferred Dividends.
The total dollar amount converted through October 21, 1999 was
approximately $8.05 million, converted into 1,334,764 shares of Valence
common stock.
About Valence Technology Inc. With more than 400 battery patents
awarded and pending, Valence is a leader in the commercial production
of lithium polymer batteries. The company operates facilities in
Henderson, Nev.; Seattle; and Mallusk, Northern Ireland. Valence is
traded on the Nasdaq National Market under the symbol VLNC. Valence can
be found on the Internet at valence-tech.com .
SOURCE Valence Technology, Inc.
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
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CONTACT: Lev Dawson, Chairman and Chief Executive Officer of Valence
Technology, Inc., 702-558-1000, or General, Laurie Berman of The Financial
Relations Board, 310-442-0599
WEB PAGE: valence-tech.com
GEOGRAPHY: Nevada |
