VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Greg McDaniel who wrote (15516)	10/28/1999 3:30:00 PM
From: Larry Brubaker	Read Replies (1) of 27311

Greg, I am aware of 3 other floorless financings that Castle Creek has done. SCUR, FIBR, and WSTL. SCUR fell from the $30s to the $3 range. FIBR fell from $12 to about $2 (if I recall correctly). WSTL is a more recent CC deal and I think Castle Creek is doing the "bouncy bouncy" with them right now (shorting around $9 and covering about $6.5 to $7). As Zeev has pointed out, ANCR is an example of a company that survived a floorless financing (although they did pay the price with substantial dilution) and whose stock recovered nicely. IMO, if VLNC has something to deliver (and soon) they should be able to recover from this without massive dilution. However, if they don't have something to show soon, I think we go much lower.

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