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Nagar Yaacov, a significant shareholder of 374Water Inc. (NASDAQ:SCWO), recently sold shares of the company, according to a recent SEC filing. The stock has declined nearly 64% over the past year and currently trades near its 52-week low of $0.41. The transactions, which took place on February 3 and 4, involved the sale of 228,039 shares of common stock. The shares were sold at prices ranging from $0.4501 to $0.4942, totaling $111,994. Following these transactions, Yaacov holds 36,545,756 shares directly. InvestingPro analysis indicates the company faces significant cash burn challenges, with a weak financial health score. Subscribers can access 20 additional real-time insights about SCWO, including detailed insider trading patterns and valuation metrics.
In other recent news, 374Water Inc. reported significant developments. The company’s AirSCWO technology demonstrated a 99.9% PFAS removal rate in trials, which is a significant improvement over current disposal methods. This development comes in response to the Environmental Protection Agency’s regulations targeting the elimination of PFAS in drinking water and the environment.
In addition, 374Water secured approximately $12.2 million through a registered direct offering of stocks and warrants. The sale included 9,783,496 shares of common stock and warrants to purchase an additional 14,675,244 shares. The company expects these transactions to be finalized by November 18, 2024, pending customary closing conditions.
These are recent developments that reinforce 374Water Inc.’s position as a leader in the waste treatment market. The company’s technology offers a potential solution to the growing spent media market, estimated at $1.3 billion as of 2024. D. Boral (OTC:BOALY) Capital LLC has served as the exclusive placement agent for the offering.
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