Core Viewpoint - Aduro Clean Technologies Inc. has successfully closed a public offering, raising approximately US$8 million to support its clean technology initiatives, particularly in research and development and the construction of a demonstration-scale plant [1][2]. Group 1: Offering Details - The public offering consisted of 947,868 common shares and accompanying warrants to purchase 473,934 common shares, priced at US$8.44 per share [1]. - Each whole warrant has an exercise price of US$10.13 and is exercisable immediately, expiring three years from issuance [1]. - The underwriters have a 45-day over-allotment option to purchase an additional 142,180 common shares and/or warrants for an additional 71,090 common shares [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to ongoing research and development costs, expenditures for the construction of the demonstration-scale plant, and general corporate purposes and working capital [2]. Group 3: Regulatory Information - The offering was conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) and a Canadian short form base shelf prospectus [4]. - The Base Shelf Prospectus has been filed with applicable securities commissions in Canada and the SEC, and is available for public access [5].
Aduro Clean Technologies Announces Closing of US$8 Million Underwritten Public Offering