VLNC: Valence Technology, Inc.(fka VLNCQ)

[finbar99]

Came across quite an amazing page on FB last week - Delaware Shareholder Services - if you're on FB, highly recommend liking the page for Ilene's updates on Delaware bankruptcies. Link below is to her notes on the A123 sale confirmation hearing. Like having a time machine to go back and follow a case I wasn't paying attention to at the time. In my opinion it gives color on two fronts - JCI being not happy about not getting the IP, and towards the end, even better color on what Wanxiang plans are - they are bring a lot of working capital to the table. I'm not quite sure how to interpret the 350 mm - I'd think it means 100 mm working capital after paying the roughly 250 cash price, but Ilene reports a junior atty saying it was all W/C - either way - I believe the Valence team took notice. The plan at this date was still to emerge without ever having hired an IB - that meant one and one thing only - Berg planned to fund the exit. But Berg is no dummy - there isn't much point in being the skinny kid once the A123 IP goes on steroids with Wanxiang cash in the coffers.

https://www.facebook.com/notes/delaware-shareholder-services/aoneq-hearing-121112/495483290501917