Published on 2/12/2008 in the Prospect News PIPE Daily.
New Issue: Valence Technology completes $1 million private placement of stock
By Devika Patel
Knoxville, Tenn., Feb. 12 - Valence Technology, Inc. completed a $1 million private placement of stock, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 492,611 common shares at $2.03 apiece to Berg & Berg Enterprises, LLC on Feb. 8.
Austin, Texas-based Valence Technology is a developer of lithium-ion batteries.
Issuer: | Valence Technology, Inc.
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Issue: | Common stock
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Amount: | $1 million
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Shares: | 492,611
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Price: | $2.03
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Warrants: | No
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Investor: | Berg & Berg Enterprises, LLC
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Settlement date: | Feb. 8
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Stock symbol: | Nasdaq: VLNC
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Stock price: | $2.31 at close Feb. 8
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