MagneGas reports plans to price public offering of its common stock

Funds to be used for product development, operations, working capital

By Devika Patel

Knoxville, Tenn., May 30 - MagneGas Corp. will price a public offering of common stock, according to a Form S-1 filed Wednesday with the Securities and Exchange Commission. The deal will have a 45-day greenshoe.

Northland Capital Markets is assisting.

Proceeds will be used for product development, operations, working capital and general corporate purposes.

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

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