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

To: hcirteg who wrote (25452)3/15/2002 8:33:29 AM
From: Zeev Hed  Read Replies (2) | Respond to of 27311
 
Look, it is quite simple, there i no fixed conversion rate. Everytime VLNC wants to draw on that $30 MM line of credit, Berg will get stock (or right to stock) at a conversion rate with a customary discount to the "then" market value (probably a trailing average), this is a floorless, whatever benign intentions Berg might or might not have.

Zeev


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