London, Ontario-based clean technology firm Aduro Clean Technologies Inc. has set the terms for a significant capital raise aimed at accelerating its innovative chemical recycling processes.
Details of the US$20 Million Offering
The company announced the pricing of an underwritten public offering in the United States expected to generate gross proceeds of approximately US$20 million. The offering consists of 1,739,130 common shares sold in combination with accompanying warrants to purchase an additional 869,565 common shares.
Each whole warrant, which is immediately exercisable, carries a price of US$16.00 per share and will expire three years from the date of issuance. The deal is spearheaded by lead underwriter D. Boral Capital LLC, with Roth Capital Partners acting as Financial Advisor.
Allocation of Proceeds and Strategic Goals
Aduro intends to direct the net proceeds from this financing primarily toward a key strategic project: the construction of its Demonstration-Scale Plant. This facility is crucial for scaling the company's patented Hydrochemolytic™ technology.
This technology is designed to transform lower-value feedstocks—including waste plastics, heavy bitumen, and renewable oils—into high-value resources. Any remaining funds will be allocated to ongoing research and development, general corporate purposes, and working capital.
Offering Timeline and Additional Option
The offering is scheduled to close on or about December 22, 2025, pending the satisfaction of customary closing conditions. In a move that could further increase the capital raised, the company has granted the underwriters a 45-day over-allotment option.
This option allows for the purchase of up to an additional 260,869 common shares and/or warrants to buy 130,434 more common shares.
The securities are being offered in the United States only, pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC). No securities from this offering will be offered or sold to Canadian purchasers. Aduro is publicly traded on the Nasdaq under the symbol 'ADUR', on the CSE under 'ACT', and on the Frankfurt exchange under '9D5'.
