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Carrollton oil firm to go public with $4 million offering
A 2-year-old Carrollton oil and gas exploration company is turning to Wall Street to finance its expansion through an initial public offering.
Apollo Energy Corp. of Carrollton hopes to raise $4 million through the sale of 3 million shares of common stock, according to a registration statement filed in early January with the Securities and Exchange Commission. The preliminary prospectus addresses the sale of between 1 million and 3 million shares of stock.
Apollo, which to date has drilled three oil and gas wells in Ohio and has various working interests in 23 oil and gas wells in Ohio and Louisiana, plans to use …