Aduro Clean Technologies Inc. (Nasdaq: ADUR) (TSX: ACT) (FSE: 9D5), a clean technology company specializing in transforming lower value feedstocks such as waste plastics, heavy bitumen, and renewable oils into valuable resources, has announced the pricing of its underwritten public offering and concurrent private placement.
Offering Details
The public offering consists of 1,028,645 common shares at a price of US$15.20 (C$21.20) per share, generating gross proceeds of US$15,635,404 before underwriting discounts and expenses. Additionally, a non-brokered private placement of up to 471,698 common shares at the same price is expected to raise up to US$7,169,810, bringing total potential gross proceeds to US$22,805,214.
Use of Proceeds
Aduro intends to allocate the net proceeds primarily toward the design, engineering, and construction of a first-of-a-kind demonstration-scale industrial plant (FOAK Plant). Funds will also support ongoing research and development, as well as general corporate purposes and working capital.
Underwriting and Closing
Canaccord Genuity is serving as the sole bookrunner for the public offering. The public offering is expected to close on or about June 11, 2026, subject to customary conditions, including approvals from the Toronto Stock Exchange (TSX) and Nasdaq. The private placement is not contingent on the public offering's closing and may close in multiple tranches within 45 days.
Regulatory Filings
The public offering is conducted under an effective shelf registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission (SEC) and a Canadian short form base shelf prospectus. The prospectus supplement will be filed with securities regulators in British Columbia and Ontario and the SEC. Copies are available via SEDAR+ or the SEC's website.
This press release does not constitute an offer to sell or solicitation of an offer to buy securities in any jurisdiction where such activity is unlawful.
