Birchtech, which provides mercury capture technology and water purification systems, lowered the proposed deal size for its upcoming IPO on Thursday.
The Corsicana, TX-based company now plans to raise $15 million by offering 4.5 million shares at a price of $3.36. The company had previously filed to offer 5.4 million shares at a price of $3.67. Birchtech originally filed to offer 4.8 million shares at a price of $4.15 in January 2026. At the midpoint of the revised deal size, Birchtech will raise -25% less in proceeds than previously anticipated.
Birchtech provides specialty activated carbon technologies focused on air and water purification, primarily serving the coal-fired utility sector with mercury emissions capture solutions through its patented SEA process, currently used by 16 electric generating units in the US. It also targets the potable water market with innovative sorbent technologies designed to address forever chemicals like PFAS, supported by two dedicated Design Centers in Pennsylvania and North Dakota for research and development. The company believes that a significant percentage of coal-fired power plants in the United States are infringing upon its patented SEA process, and began actively initiating patent litigations in 2019 against multiple parties.
Birchtech was founded in 1996 and plans to list on the NYSE American under the symbol BCHT. Lake Street Capital Markets and Huntington Investment are the joint bookrunners on the deal.
