Marc Deshusses, a director and significant shareholder of 374Water Inc. (NASDAQ:SCWO), recently acquired additional shares in the company. According to a recent SEC filing, Deshusses purchased 32,000 shares of common stock at a price of $1.25 per share, amounting to a total investment of $40,000. Following this transaction, Deshusses now holds 22,652,451 shares directly.
In addition to the common stock purchase, Deshusses also acquired warrants to buy an additional 48,000 shares of common stock. These warrants have an exercise price of $1.125 per share and are set to expire on November 17, 2029. This acquisition further solidifies Deshusses' substantial stake in the company.
In other recent news, 374Water Inc., a cleantech company, has secured approximately $12.2 million through a registered direct offering of shares and warrants. The company sold nearly 9.8 million shares of common stock and provided warrants for an additional 14.7 million shares. D. Boral (OTC:BOALY) Capital LLC acted as the exclusive placement agent for the transaction, which is expected to be finalized by November 18, 2024.
In parallel developments, 374Water has initiated operations of its AirSCWO technology at the Iron Bridge Regional Water Reclamation Facility in Orlando. This marks a significant step in commercial biosolids processing, with the technology designed to efficiently process biosolids and PFAS contaminated wastes. The Florida Department of Environmental Protection supported the installation with a grant under the Bilateral Infrastructure Law emerging contaminant funding.
Furthermore, the company has announced future commitments across the United States, including a deployment to Orange County Sanitation in California slated for 2025. These recent developments follow an update in July 2024 regarding the deployment of the AirSCWO technology after its extended residency at the Merrell Bros' facility in Kokomo, Indiana.
InvestingPro Insights
Marc Deshusses' recent purchase of 374Water Inc. (NASDAQ:SCWO) shares comes at a time when the stock has experienced significant volatility. According to InvestingPro data, SCWO's stock has taken a substantial hit over the last week, with a 1-week price total return of -27.96%. This decline is part of a broader trend, as the stock has fallen 41.91% over the past month.
Despite these short-term challenges, it's worth noting that 374Water Inc. holds more cash than debt on its balance sheet, as highlighted by one of the InvestingPro Tips. This financial stability could be a factor in Deshusses' decision to increase his stake in the company.
However, investors should be aware that analysts anticipate a sales decline for SCWO in the current year, and the company is not expected to be profitable this year. The stock's Price to Book ratio stands at a high 15.81, suggesting it may be overvalued relative to its book value.
For those interested in a more comprehensive analysis, InvestingPro offers 14 additional tips for SCWO, providing a deeper understanding of the company's financial health and market position.
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