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MagneGas Announces Pricing of $5.0 Million Registered Direct Offering

MAGNEGAS (MNGA)  More Company Research Source: GlobeNewswire
Last magnegas earnings: 8/14 08:00 am Check Earnings Report
US:NASDAQ Investor Relations: magnegas.com
PDF TAMPA, Fla., Oct. 11, 2018 (GLOBE NEWSWIRE) -- MagneGas Applied Technology Solutions, Inc. (“MagneGas” or the “Company”) (NASDAQ: MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, today announced it has entered into a securities purchase agreement with certain accredited institutional investors to purchase approximately $5.0 million of its common stock in a registered direct offering and warrants to purchase its shares of common stock in a concurrent private placement. The combined purchase price for one share of common stock and each warrant will be $0.23.  Under the terms of the purchase agreement, MagneGas has agreed to sell 21,800,000 shares of its common stock.  In a concurrent private placement, MagneGas has agreed to issue warrants to purchase up to an aggregate of 21,800,000 shares of common stock.  The warrants sold in the private placement will become exercisable on the earlier of (i) six months following the date [Read more]

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