New Issue: Valence Technology closes $1 million placement of shares

By Sheri Kasprzak

New York, May 18 - Valence Technology, Inc. completed a $1 million private placement.

The company sold 990,099 shares at $1.01 each to Berg & Berg Enterprises, LLC, an affiliate of Carl E. Berg, the company's chairman.

Valence develops rechargeable lithium-ion battery technologies. The company has headquarters in Austin, Texas.

Issuer:	Valence Technology, Inc.
Issue:	Stock
Amount:	$1 million
Shares:	990,099
Price:	$1.01
Warrants:	No
Investor:	Berg & Berg Enterprises, LLC
Settlement date:	May 17
Stock symbol:	Nasdaq: VLNC
Stock price:	$1.03 at close May 17

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