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Aduro Clean Technologies Announces Closing of Underwriter’s Over-Allotment Option in Public Offering
LONDON, Ontario, June 20, 2025 (GLOBE NEWSWIRE) -- Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (Nasdaq: ADUR) (CSE: ACT) (FSE: 9D5), a clean technology company using the power of chemistry to transform lower-value feedstocks, like waste plastics, heavy bitumen, and renewable oils, into resources for the 21st century, today announced that it issued an additional 142,180 common shares and warrants to purchase an additional 71,090 common shares, for total gross proceeds of approximately US$1.2 million, pursuant to D. Boral Capital LLC’s full exercise of its underwriter’s over-allotment option in connection with the Company’s previously announced underwritten U.S. public offering of common shares and accompanying warrants to purchase common shares (“Offering”).
The common shares issued pursuant to the over-allotment option were sold in combination with an accompanying half warrant (with each whole warrant being exercisable into one common share of the Company). Each whole warrant has an exercise price of US$10.13 per share and are exercisable immediately and will expire three years from the date of issuance.
D. Boral Capital LLC is acting as the sole book-running manager for the Offering.
Aduro intends to use the net proceeds from the offering for ongoing research and development costs, expenditures related to the construction of its “Demonstration-Scale” plant and the remainder (if any) for general corporate purposes and working capital.
The Offering was being made pursuant to an effective shelf registration statement on Form F-10, as amended (File No. 333-287475), previously filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on May 28, 2025, and the Company’s Canadian short form base shelf prospectus dated May 28, 2025 (the “Base Shelf Prospectus”). Aduro offered and sold the securities in the United States only. No securities were offered or sold to Canadian purchasers.
The Base Shelf Prospectus relating to the Offering and describing the terms thereof has been filed with the applicable securities commissions in Canada and with the SEC in the United States and is available for free by visiting the Company’s profiles on the SEDAR+ website maintained by the Canadian Securities Administrators at www.sedarplus.ca or the SEC’s website at www.sec.gov, as applicable. A final prospectus supplement with the final terms was be filed with the securities regulatory authorities in the Canadian provinces of British Columbia and Ontario and the SEC.
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