374Water Inc. (NASDAQ: SCWO) announced that its interim President and Chief Executive Officer, Stephen J. Jones, will also serve as Chair of the Board of Directors, succeeding former Chair Rene Estes. The move consolidates executive leadership and signals a commitment to stronger corporate governance as the company navigates a challenging market environment.
In a separate corporate action, the company approved a 1‑for‑10 reverse stock split that will take effect at 12:01 a.m. Eastern on December 26, 2025. The split consolidates ten existing shares into one, raising the per‑share price above Nasdaq’s $1.00 minimum bid‑price requirement and preserving the company’s eligibility to file S‑3 shelf registrations. The reverse split is a defensive measure designed to maintain listing status and broaden investor appeal.
The reverse split comes amid a period of financial strain. In the third quarter of 2025, 374Water reported revenue of $760,000, a modest increase from the prior quarter, but the company posted a net loss of $4.3 million, widening the loss from the previous quarter. Cash reserves have also declined sharply, prompting the company to seek additional liquidity. Nasdaq granted the company a 180‑day extension to regain compliance with the minimum bid‑price requirement, with a deadline of January 12, 2026.
Jones emphasized that the reverse split is intended to position the company for the next phase of commercialization, citing confidence in its AirSCWO technology and the growing Waste Destruction Services (WDS) business. AirSCWO, a catalytic process that destroys a broad range of organic contaminants—including PFAS—has attracted interest from government and industrial customers, while the WDS segment is expected to generate recurring revenue as demand for hazardous waste destruction rises.
Management’s recent open‑market purchases of company stock, coupled with the appointment of the CEO as board chair, suggest a strong belief in the company’s long‑term prospects. The combined actions aim to reinforce governance, stabilize the share price, and provide a platform for future capital‑raising initiatives.
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