Yaacov Nagar, a significant shareholder of 374Water Inc. (NASDAQ:SCWO), reported selling a total of 115,298 shares of the company's common stock over two days, according to a recent SEC filing. The transactions, executed on January 16 and 17, amounted to $69,648. The sale comes as the stock trades near its 52-week low, with InvestingPro analysis indicating the stock is currently trading below its Fair Value despite challenging market conditions.
On January 16, Nagar sold 300 shares at $0.631 per share, and on January 17, he sold an additional 114,998 shares at a weighted-average price of $0.604 per share. The price for the latter transaction was executed in multiple trades, ranging from $0.606 to $0.593 per share, as noted in the filing. The company, currently valued at $84.34 million, has seen its stock decline over 53% in the past year.
Following these transactions, Nagar's direct ownership stands at 36,861,882 shares. InvestingPro subscribers can access 15+ additional insights about 374Water, including detailed financial health metrics and future growth projections. The platform's analysis suggests the stock is currently in oversold territory, potentially presenting an interesting setup for value investors.
In other recent news, 374Water Inc. has successfully raised $12.2 million through the sale of stocks and warrants. The cleantech company sold 9,783,496 shares of common stock and warrants to purchase an additional 14,675,244 shares. The warrants, priced at $1.125 per share, are exercisable immediately and valid for five years. The arrangement is expected to conclude by November 18, 2024, with D. Boral (OTC:BOALY) Capital LLC acting as the exclusive placement agent.
The company has also initiated operations of its AirSCWO technology at the Iron Bridge Regional Water Reclamation Facility in Orlando. The technology is designed to process biosolids and PFAS contaminated wastes, which is in line with the city's sustainability goals. The Florida Department of Environmental Protection supported the installation with a grant under the Bilateral Infrastructure Law emerging contaminant funding.
In addition to these developments, 374Water anticipates further commitments across the United States, including a deployment to Orange County Sanitation (CA) in 2025. These recent developments highlight the company's ongoing efforts to manage waste effectively and sustainably.
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