Published on 10/22/2007 in the Prospect News PIPE Daily.
New Issue: Valence Technology to sell 3 million common shares
By Laura Lutz
Des Moines, Oct. 22 - Valence Technology, Inc. plans to conduct a private placement of up to 3,000,000 shares of common stock for at least $1.50 per share, according to an 8-K filing with the Securities and Exchange Commission.
Wm. Smith & Co. will be the placement agent.
Austin, Texas-based Valence Technology specializes in commercial lithium phosphate rechargeable batteries.
| Issuer: | Valence Technology, Inc.
|
| Issue: | Stock
|
| Shares: | 3,000,000 (maximum)
|
| Price: | $1.50 (minimum)
|
| Agent: | Wm. Smith & Co.
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| Announcement date: | Oct. 22
|
| Stock symbol: | Nasdaq: VLNC
|
| Stock price: | $1.73 at close Oct. 22
|
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