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Yaacov Nagar, a ten percent owner of 374Water Inc. (NASDAQ:SCWO), recently sold a portion of his holdings in the company. The sale comes as the stock trades near its 52-week low of $0.54, having declined over 53% in the past year. According to a Form 4 filing with the Securities and Exchange Commission, Nagar disposed of a total of 31,925 shares of common stock over two days, January 23 and January 24, 2025. The shares were sold at prices ranging from $0.59 to $0.597 per share, amounting to a total transaction value of $19,052.
Following these transactions, Nagar's direct ownership in 374Water Inc. stands at 36,773,795 shares. The sales did not involve any equity swaps, and the shares were disposed of in a direct manner.
In other recent news, 374Water Inc. has made significant strides in its waste treatment technology and financial growth. The company's AirSCWO technology has demonstrated a 99.9% PFAS removal rate in trials, surpassing current disposal methods and potentially revolutionizing the waste treatment market. 374Water's recent success aligns with new regulatory requirements from the Environmental Protection Agency, targeting the elimination of PFAS in drinking water and the environment.
In financial developments, 374Water has secured approximately $12.2 million through a registered direct offering, involving the sale of shares and warrants. The transaction is expected to be finalized by November 18, 2024, pending customary closing conditions. Analysts at InvestingPro note that despite weak gross profit margins and anticipated sales decline this year, the company maintains strong liquidity to fund its growth initiatives.
In addition to these developments, 374Water has begun operations of its AirSCWO technology at the Iron Bridge Regional Water Reclamation Facility in Orlando, supported by a grant from the Florida Department of Environmental Protection. This technology is designed to efficiently process biosolids and PFAS contaminated wastes, aligning with the city's sustainability goals. Furthermore, the company anticipates additional commitments across the United States, including a deployment to Orange County Sanitation in 2025. These recent developments reflect 374Water's ongoing efforts to address waste management and wastewater treatment challenges in various sectors.
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