MagneGas Completes $556,000 Financing
MAGNEGAS (MNGA)
Last magnegas earnings: 11/14 08:00 am
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Source: GlobeNewswire
Transaction Completed to Clear Accrued Financing Costs Without Consuming Growth Driven Working Capital TAMPA, Fla., June 28, 2018 (GLOBE NEWSWIRE) -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ:MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, announced today that it has completed a $556,000 convertible preferred offering with its investment banking partners to clear accrued financing expenses. The terms of this transaction were disclosed in an 8-K filing dated June 28, 2019. “We are pleased to complete this transaction,” commented Ermanno Santilli, Chief Executive Officer of MagneGas. “We appreciate the flexibility demonstrated by our banking partners during our rapid growth, and their support has been an integral part of our ability to execute on a series of acquisitions to expand our industrial gas footprint across Texas and California in this year. Our growth strategy has resulted in rapid sales gr
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