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United Gets Recharged

Around the State – North JerseySECAUCUS Last week United Energy announced it closed on a $5.1 million private equity placement. The company, which develops and markets sludge-removing and other specialty chemicals for the oil and gas industry, says it sold some 4.3 million shares of its common stock at $1.20 per share. United Energy plans to use the funds for general corporate expenses and working capital. Late last week the company’s shares were trading at around $1.60.

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