OriginOil intends to sell common shares through public offering

Deal underwritten by Aegis; proceeds fund general corporate purposes

By Devika Patel

Knoxville, Tenn., Oct. 19 - OriginOil, Inc. plans to conduct a public offering of common stock, according to an S-1 filed Wednesday with the Securities and Exchange Commission. Aegis Capital Corp., the underwriter, has a 45-day greenshoe option.

The company may sell up to $23 million shares.

Proceeds will be used for general corporate purposes.

The Los Angeles company has developed a technology to produce a bio-fuel from algae through a cost-effective, high-speed manufacturing process to replace petroleum in various applications such as diesel, gasoline, jet fuel, plastics and solvents.

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