MagneGas to move headquarters, acquires gas distribution company

|About: MagneGas Corporation (MNGA)|By:, SA News Editor

MagneGas (NASDAQ:MNGA) will relocate its headquarters and R&D facilities to a larger newly purchased location closer to its customers and suppliers in Tampa, Florida.

The company has also signed a letter of intent to purchase an established industrial gas distribution company with an estimated 2014 gross revenue of approximately $2M.

MNGA +2.5% premarket