MagneGas announces plans to price public offering of stock, warrants

Proceeds will be used for working capital; Northland is the bookrunner

By Devika Patel

Knoxville, Tenn., May 30 - MagneGas Corp. said it will price a public offering of common stock and warrants. The deal is expected to price by Friday.

Northland Securities, Inc. is the sole bookrunning manager.

Proceeds will be used for working capital and general corporate purposes.

Tampa, Fla.-based MagneGas produces MagneGas, a natural-gas alternative and metal-working fuel made from liquid waste such as sewage.

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