Published on 6/15/2009 in the Prospect News PIPE Daily.
New Issue: Valence Technology wraps $2.5 million private placement of common stock
By Devika Patel
Knoxville, Tenn., June 15 - Valence Technology, Inc. completed a $2.5 million private placement of stock on June 11, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 1,256,281 common shares at $1.99 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: | $2,499,999.19
|
| Shares: | 1,256,281
|
| Price: | $1.99
|
| Warrants: | No
|
| Investor: | Berg & Berg Enterprises, LLC
|
| Settlement date: | June 11
|
| Stock symbol: | Nasdaq: VLNC
|
| Stock price: | $2.07 at close June 11
|
| Market capitalization: | $236 million
|
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