London, Ontario-based clean technology innovator Aduro Clean Technologies Inc. has successfully closed a significant capital raise, bolstering its financial position to advance its chemical conversion platforms. The company announced the completion of an underwritten public offering in the United States, generating gross proceeds of approximately US$20 million before fees.
Details of the Capital Raise
The offering, which closed on December 22, 2025, involved the sale of 1,739,130 common shares. Each share was sold in combination with a half warrant, resulting in accompanying warrants to purchase an additional 869,565 common shares. Each whole warrant carries an exercise price of US$16.00 per share, is exercisable immediately, and will expire three years from the date of issuance.
D. Boral Capital LLC acted as the lead underwriter for the transaction, with Roth Capital Partners serving as financial advisor. Furthermore, the underwriters were granted a 45-day over-allotment option. This option allows them to purchase up to an additional 260,869 common shares and/or warrants for 130,434 more shares, providing potential for further capital infusion.
Strategic Use of Proceeds for Growth
Aduro has outlined a clear plan for the net proceeds from this financing round. The primary allocation is earmarked for expenditures related to the construction of its pivotal Demonstration-Scale Plant. This facility is crucial for scaling the company's patented Hydrochemolytic™ technology, which is designed to transform lower-value feedstocks like waste plastics, heavy bitumen, and renewable oils into high-value resources.
The remaining funds, if any, will be directed toward ongoing research and development initiatives, general corporate purposes, and working capital. This strategic allocation underscores the company's commitment to advancing its commercial deployment and technological edge in the sustainable chemistry sector.
Regulatory Framework and Market Focus
The offering was conducted under an effective shelf registration statement (Form F-10, File No. 333-292023) filed with the U.S. Securities and Exchange Commission (SEC) and a corresponding Canadian short form base shelf prospectus dated December 15, 2025. It is important to note that the securities were offered and sold exclusively in the United States, with no offerings made to Canadian purchasers as part of this transaction.
Interested investors can access the final prospectus supplement detailing the terms through the SEC's website or directly from the lead underwriter. Aduro Clean Technologies, publicly traded on Nasdaq under the symbol ADUR, as well as on the CSE (ACT) and FSE (9D5), continues to position itself at the forefront of creating circular solutions for hard-to-recycle materials.
