Core Viewpoint - Aduro Clean Technologies Inc. has announced a public offering of common shares and warrants, aiming to raise approximately US$20 million to fund its clean technology initiatives [1][2]. Group 1: Offering Details - The offering consists of 1,739,130 common shares and accompanying warrants to purchase 869,565 common shares, with gross proceeds expected to be around US$20 million before expenses [1]. - Each whole warrant has an exercise price of US$16.00 per share, is immediately exercisable, and will expire three years from issuance [1]. - The underwriters have a 45-day over-allotment option to purchase an additional 260,869 common shares and/or warrants for 130,434 common shares [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for the construction of a Demonstration-Scale Plant, ongoing research and development, general corporate purposes, and working capital [2]. Group 3: Regulatory Information - The offering is made 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 final prospectus supplement detailing the terms will be filed with the relevant securities regulatory authorities [5]. Group 4: Company Overview - Aduro Clean Technologies specializes in patented water-based technologies for recycling waste plastics, converting heavy crude into lighter oil, and transforming renewable oils into higher-value fuels or chemicals [7]. - The company's Hydrochemolytic™ Technology utilizes water as a key agent in a low-temperature chemistry platform, aiming to convert low-value feedstocks into valuable resources for the 21st century [7].
Aduro Clean Technologies Announces Pricing of US$20 Million Underwritten Public Offering