Published on 2/24/2010 in the Prospect News PIPE Daily.
New Issue: Valence Technology takes in $1 million via private placement of shares
By Devika Patel
Knoxville, Tenn., Feb. 24 - Valence Technology, Inc. completed a $1 million private placement of stock on Feb. 22, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 1,086,957 common shares at $0.92 apiece to Berg & Berg Enterprises, LLC.
Austin, Texas-based Valence Technology is a developer of lithium-ion batteries.
| Issuer: | Valence Technology, Inc.
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Shares: | 1,086,957
|
| Price: | $0.92
|
| Warrants: | No
|
| Investor: | Berg & Berg Enterprises, LLC
|
| Settlement date: | Feb. 22
|
| Stock symbol: | Nasdaq: VLNC
|
| Stock price: | $0.92 at close Feb. 22
|
| Market capitalization: | $114 million
|
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