Air and water purification system supplier Birchtech (BCHT.US) IPO priced at $3.67 per share, aiming to raise $20 million.

Air and water purification system supplier Birchtech adjusted the proposed transaction size of its initial public offering (IPO) on Tuesday. The company currently plans to issue 5.4 million shares at a price of $3.67 per share to raise $20 million. Previously, the company had planned to issue 4.8 million shares at a price of $4.15 per share. The company plans to list on the New York Stock Exchange under the ticker symbol "BCHT". Birchtech provides specialized activated carbon technology focused on air and water purification, mainly offering mercury emission capture solutions for the coal-fired utility sector through its patented SEA process, with 16 power plants in the United States currently using the technology. The company also targets the drinking water market with its innovative adsorbent technology, aiming to address issues related to PFAS and other persistent chemicals, supported by two specialized design and research centers in Pennsylvania and North Dakota. The company believes that a significant proportion of coal-fired power plants in the United States are infringing on its patented SEA process and has been actively filing patent lawsuits against multiple parties since 2019.