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

To: William Epstein who wrote (11613)	5/31/1999 6:09:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 27311

Bill, I do not remember the expiration, if any, the unique thing about this convertible is that it becomes "floorless" if a "material event" does not occur, by I believe July 27th. I am not sure if that has teeth, because the first tranche of the same debentures had the same Damocles sword over its head, the date was in January, no material event occurred, and the floorless feature was removed voluntarily by the debenture holder, a big victory, IMHO, for Lev. Maybe history will repeat? Zeev