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374Water Announces Preliminary Proxy Filing Seeking Approval for Discretionary Reverse Stock Split
Globenewswireยท 2025-10-24 21:38
Core Viewpoint - 374Water Inc. is taking steps to align shareholder interests through new executive leadership, open market stock purchases, and a proposed reverse stock split to support long-term shareholder value and maintain its Nasdaq listing [1][2][3] Financial Position - The company has fortified its balance sheet with approximately $7.0 million in gross proceeds from an at-the-market facility, extending its cash runway into the second quarter of 2026 [1][3] Shareholder Meeting - A Special Meeting of Stockholders is scheduled for December 15, 2025, to seek approval for a reverse stock split at a ratio between 1 for 8 and 1 for 20, which aims to maintain market capitalization while reducing the number of shares outstanding [1][2] Leadership and Governance - New leadership, including the Interim President and CEO Stephen J. Jones, aims to improve communication with shareholders and align interests through a Minimum Equity Ownership Policy for the Board of Directors [2][3] Operational Developments - The company is making significant progress in developing its AirSCWO technology and Waste Destruction Services, which are designed to eliminate hazardous and non-hazardous wastes [4][6]