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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: add who wrote (11077)5/10/1999 9:51:00 PM
From: add  Read Replies (1) of 27311
 
The request for a delay clause in the effective date of the registration is curious. Shelf registrations have a life of 2 years from the effective date. The effective date is sometime between the filing and SEC approval. The distribution of this period varies a lot based on when the SEC gets around to it and is given:

sec.gov

Typically, non-reviewed applications should take 3-4 months. There are proposed rules to make this whole process more efficient, but none of that for now. The filing was on April 20, which means Lev expected to have approval around August and it would be effective until Aug 2001.

So why put a clause to delay the effective date ? If they need $50M this year, the effective date should be ASAP. Could it have something to do with the recent legal setback ?
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