DURHAM, N.C.—Nagar Yaacov, a significant shareholder of 374Water Inc. (NASDAQ:SCWO), sold a substantial portion of the company's common stock earlier this week. According to a recent SEC filing, Yaacov sold 73,572 shares in two separate transactions on January 14 and 15, 2025. The sale comes as the stock trades near $0.61, down over 50% from its 52-week high of $1.99.
The shares were sold at prices ranging from $0.6311 to $0.632 per share, amounting to a total sale value of $46,486. Following these transactions, Yaacov retains ownership of 36,977,180 shares of 374Water. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with technical indicators suggesting oversold conditions.
This development comes as part of ongoing activities within the company, which operates in the motors and generators sector. While the company maintains a strong current ratio of 3.81 and holds more cash than debt, investors may be keeping a close watch on these transactions as they evaluate their positions in 374Water Inc. Get access to 15+ additional exclusive insights and technical indicators with InvestingPro.
In other recent news, cleantech company 374Water Inc. has secured approximately $12.2 million through a registered direct offering of shares and warrants. The sale includes 9,783,496 shares of common stock and warrants for an additional 14,675,244 shares, with each share bundled with 1.5 warrants, priced at $1.125 per share. The transaction, facilitated by D. Boral (OTC:BOALY) Capital LLC, is expected to be completed by November 18, 2024, subject to customary closing conditions.
In addition to this financial development, 374Water has begun operating its AirSCWO technology at the Iron Bridge Regional Water Reclamation Facility in Orlando, a significant step in commercial biosolids processing. This technology aims to efficiently process biosolids and PFAS contaminated wastes, aligning with Orlando's sustainability goals. The Florida Department of Environmental Protection supported this installation with a grant under the Bilateral Infrastructure Law emerging contaminant funding.
Lastly, following the successful deployment of the AirSCWO technology at the Merrell Bros' facility in Kokomo, IN, 374Water anticipates additional commitments across the United States, including a deployment to Orange County Sanitation in California in 2025. These are the recent developments in the company's operations.
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