374Water, Inc. to sell 9.78M shares at $1.25 in registered direct offering

374Water entered into a securities purchase agreement with certain investors to purchase approximately $12.2 million worth of its common stock and warrants in a registered direct offering. Under the terms of the securities purchase agreement, the Company has agreed to sell 9,783,496 shares of its common stock, par value $0.0001 and warrants to purchase 14,675,244 shares of Common Stock. The Warrants will be exercisable immediately upon issuance, have an exercise price of $1.125 per share, and will expire five years from the initial exercise date. The purchase price for one share of Common Stock and accompanying 1.5 Warrants will be $1.25. The gross proceeds to the Company from the registered direct offering are estimated to be approximately $12.2 million, before deducting the placement agent’s fees and other estimated offering expenses. The offering is expected to close on or about November 18, 2024, subject to the satisfaction of customary closing conditions. D. Boral Capital LLC is acting as exclusive placement agent for the offering.