MagneGas Corporation just filed a prospectus, suggesting it plans to soon issue some securities

MagneGas Corporation just came out with a new prospectus, available here. This is an SEC requirement for firms looking to issue certain types of securities. An excerpt of the prospectus is provided below:

424B5 1 form424b5.htm   Filed Pursuant to Rule 424(b)(5) Registration No. 333-207928   PROSPECTUS SUPPLEMENT (To Prospectus dated June 15, 2016)     10,800,000 shares of Common Stock Warrants to Purchase 8,100,000 shares of Common Stock   We are offering 10,800,000 shares of our common stock (the “Common Stock”) and warrants (the “Warrants”) to purchase up to 8,100,000 shares of our Common Stock. Each share of Common Stock we sell in this offering will be accompanied by a Warrant to purchase 0.75 shares of Common Stock at an exercise price of $1.25 per share of Common Stock. Each share of Common Stock and accompanying Warrant are being sold at a combined purchase price of $1.25. The shares of Common Stock and Warrants can only be purchased together in this offering but will be issued separately and will be immediately separable upon issuance.   This prospectus supplement also relates to the offering of the shares of Common Stock issuable upon exercise of the Warrants.   We have also granted the underwriter a period of 30 days to purchase up to 1,120,000 additional shares of Common Stock and/or 840,000 additional Warrants at the same discount per share of Common Stock and/or Warrant as set forth in the table below.   The proceeds to us before expenses in this offering will be $12,791,250. We estimate the total expenses of this offering will be $220,000.   Our Common Stock is quoted on The Nasdaq Capital Market under the symbol “MNGA.” On February 7, 2019, the last reported sales price for our Common Stock on The Nasdaq Capital Market was $1.91 per share. We do not intend to list the Warrants, nor do we expect the Warrants to be quoted, on any securities exchange.   On January 31, 2019, the Company changed its name from “MagneGas Applied Technology Solutions, Inc.” to “Taronis Technologies, Inc.” and, as of January 30, 2019 at 5 p.m. Eastern Time, effected a one-for-20 reverse stock split, whereby every 20 shares of Common Stock issued and outstan

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Notification filed by national security exchange to report the removal from listing and registration of matured, redeemed or retired securities - July 1, 2020

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