VALENCE TECHNOLOGY (VLNC) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : VALENCE TECHNOLOGY (VLNC)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: kolo55 who wrote (15862)	11/10/1999 6:03:00 PM
From: kolo55	Read Replies (2) of 27311

CC did convert 1000 series B on 11/3. According to the 10Q, Castle Creek converted 1000 series B shares on November 3rd, leaving them with 3500 series B outstanding. They received 226k common shares. The conversion price on November 3rd was 4.66 if they did it before noon ET, or 4.71 if they did it later in the day. From the number of shares, it appears that the conversion occured early enough to capture the 4.66 price set at the close November 2nd. November 3rd conversion price was the last day which I predicted they would convert the full remaining amount. Too bad for them that they didn't, the conversion price today is now up to 5.09... they made a major mistake. I should add: this is if they didn't convert the rest already. CC is left only with 3000 series B preferred shares convertible into 725k shares at the current conversion price. At the lowest conversion price in September, the original 7500 series B could have converted into 1780k shares. I believe they have shorted a significant number of shares against the 725k they have left, and given the rising conversion price, will be forced to convert much of what they have left. Paul

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next