Air and water purification systems provider Birchtech Corp. revised the proposed terms for its initial public offering on Tuesday.

The company now intends to offer 5.4 million shares at a price of $3.67 per share to raise $20 million.

Previous filings indicated the company planned to sell 4.8 million shares at $4.15 each.

Birchtech Corp. expects to list on the New York Stock Exchange under the ticker symbol "BCHT."

The company provides specialized activated carbon technology focused on air and water purification, primarily offering mercury emission capture solutions for the coal-fired utility sector through its proprietary SEA process, which is currently utilized by 16 power generation units in the United States.

Leveraging its innovative adsorbent technology, the company is also targeting the drinking water market, aiming to address concerns over persistent chemicals like PFAS, with support from two specially designed research and development centers located in Pennsylvania and North Dakota.

The firm believes a significant portion of U.S. coal-fired power plants are infringing upon its patented SEA process and began actively pursuing patent litigation against multiple parties starting in 2019.