Share Purchase Agreement between Valence Technology, Inc. and Berg & Berg Enterprises, LLC (September 28, 2010)
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Summary
Valence Technology, Inc. has agreed to sell 1,923,077 shares of its common stock to Berg & Berg Enterprises, LLC for $2,000,000, at a price of $1.04 per share. The shares are being sold as restricted securities in a private transaction exempt from SEC registration, and Berg & Berg affirms it is purchasing for its own account as an accredited investor, with no intent to resell in violation of securities laws. The agreement is effective as of September 28, 2010.
EX-10.1 2 ex10-1.htm EXHIBIT 10.1 ex10-1.htm 
Exhibit 10.1
Mr. Carl E. Berg September 28, 2010
Berg & Berg Enterprises, LLC .
10050 Bandley Drive
Cupertino, CA 95014
Re: Share Purchase
Dear Mr. Berg:
This letter agreement will confirm the sale, effective as of the date set forth above, by Valence Technology, Inc. (the “Company”) to Berg & Berg Enterprises, LLC (“Berg & Berg”) of one million nine hundred twenty three thousand and seventy seven (1,923,077) shares (the Shares) of the Company’s common stock at a per share price of $1.04 which represents the closing bid price of the Company’s common stock on the NASDAQ Capital Market on September 28, 2010, for aggregate consideration of $2,000,000.00.
These Shares were offered and sold in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). Berg & Berg understands that the Shares are “restricted securities” and have not been registered under the Securities Act or any applicable state securities law. Berg & Berg is acquiring the Shares as principal for its own account and not with a view to or for distributing or reselling such Shares or any part thereof in violation of the Securities Act or any applicable state securities law; has no present intention of distributing any of such Shares in violation of the Securities Act or any applicable state securities law; and has no direct or indirect arrangement or understandings with any other persons to di stribute or regarding the distribution of such Shares in violation of the Securities Act or any applicable state securities law. Berg & Berg is an “accredited investor” as defined under Regulation D promulgated under the Securities Act.
| Sincerely, | ACCEPTED AND AGREED: |
| VALENCE TECHNOLOGY, INC. | Berg & Berg, LLC. |
| /s/ Ross. A. Goolsby | /s/ Carl. E. Berg |
| Ross A. Goolsby | Carl E. Berg |
| Chief Financial Officer | Managing Member |
