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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (13995)8/26/1999 11:04:00 PM
From: Larry Brubaker  Respond to of 27311
 
Zeev, actually I mispoke about the "slightly above $5." I believe the actual price was closer to $6. I'll have to go back and refresh my memory on the "most favored nation" clause.



To: Zeev Hed who wrote (13995)8/27/1999 12:44:00 AM
From: Larry Brubaker  Read Replies (1) | Respond to of 27311
 
Zeev, I went back and reread the "most favored nation" clause. It looks to me like it only applies if VLNC issues other convertible securities, but not if they simply issue common stock at a fixed price (as was the case with the last two $3 million financings). Therefore, I don't think the ceiling on the conversion price is declining due to these financings.


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