374Water Inc 8-K, filed Mar 19, 2025
374Water Inc. (SCWO)
About this 8-K
374Water Inc filed this 8-K on March 19, 2025, reporting on events of March 13, 2025.
Items reported
- Item 3.01: Delisting notice or listing transfer
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On March 13, 2025, 374Water Inc. (the “Company”) notified the Nasdaq Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company no longer complies with Nasdaq’s independent director requirement as set forth in Nasdaq Listing Rule 5605(b)(1), which requires a majority of the Company’s Board of Directors (the “Board”) to be comprised of Independent Directors as defined in Nasdaq Listing Rule 5605(a)(2). On that same date, the Company received a letter from Nasdaq confirming the foregoing (the “Letter”).
Consistent with Nasdaq Listing Rule 5605(b)(1)(A), the Letter provides that the Company is eligible for a cure period in which to regain compliance with Nasdaq Listing Rule 5605(b)(1). This cure period will expire at the earlier of the Company’s next annual meeting of stockholders or March 9, 2026; or if the Company’s next annual meeting is held before September 8, 2025, then the Company must evidence compliance no later than September 8, 2025.
The Company intends to elect an additional Independent Director to the Board as soon as practicable and prior to the expiration of this cure period. However, there can be no assurance that the Company will successfully regain compliance with Nasdaq Listing Rule 5605(b)(1) within the applicable cure period. The Letter has no immediate effect on the listing or trading of the Company’s common stock, which will continue to be listed and traded on The Nasdaq Capital Market under the symbol “SCWO,” subject to the Company’s compliance with the other Nasdaq listing requirements.
Item 8.01. Other Events
The Company expects to hold its 2025 Annual Meeting of Stockholders (the “2025 Annual Meeting”) on June 11, 2025. The record date, time and location of the 2025 Annual Meeting will be set forth in the proxy statement for the 2025 Annual Meeting to be filed with the Securities and Exchange Commission prior to the 2025 Annual Meeting.
Stockholders who intend to bring a proposal (that is not intended for inclusion in the Company’s proxy statement) at the 2025 Annual Meeting must deliver or cause to be delivered the required notice of business proposal to the secretary of the Company no later than April 12, 2025, regardless of any postponements, deferrals or adjournments thereof. Any such proposal must comply with the requirements set forth in the Company's Amended and Restated Certificate of Incorporation.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: March 19, 2025 |
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/s/ Chris Gannon |
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Chris Gannon |
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Chief Executive Officer |
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