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Ocean Electric plans direct public sale of 45 million common shares
Deal slated to fund capital expenditures, operations, working capital
By Devika Patel
Knoxville, Tenn., July 3 - Ocean Electric Inc. will price a direct public offering of 45 million common shares, according to a prospectus filed Tuesday with the Securities and Exchange Commission.
Proceeds will be used for capital expenditures, operations and working capital.
The Carson City, Nev., development-stage company plans to commercialize ocean energy extraction technologies.
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