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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Herb Blair who wrote (5951)12/14/1998 9:05:00 AM
From: John Curtis  Read Replies (1) of 27311
 
Herbert: Thanks for the heads up. 'Tis looking better all the time; particularly regarding that section stating;

"it has reached an agreement with its preferred stock investor to complete the second half of its $15 million preferred stock financing and to eliminate the variable conversion price on the existing $7.5 million preferred. The investor, an affiliate of Castle Creek Partners, L.L.C., a Chicago-based technology investor, has waived the milestone contingencies previously required to complete this investment."

Hmmmm....let's see....elimination of the variable conversion price on the EXISTING $7.5......and a waiver on the previously required milestones.....me thinks this must mean that from Castle Creeks point of view they're satisfied with VLNC and think they'll make it!

Now let's see how today goes, eh?

John~
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