Aduro Clean Technologies raises $20 million in public offering

Aduro Clean Technologies Inc. (NASDAQ: ADUR) closed an underwritten public offering of 1,739,130 common shares with accompanying warrants, raising approximately $20 million in gross proceeds before fees and expenses.

The clean technology company sold shares combined with half warrants, with each whole warrant exercisable at $16.00 per share. The warrants are exercisable immediately and expire three years from issuance. The offering also included 869,565 warrants to purchase common shares.

D. Boral Capital LLC served as lead underwriter for the offering. The underwriters received a 45-day over-allotment option to purchase up to 260,869 additional common shares and warrants for 130,434 additional shares.

Aduro plans to use net proceeds primarily for construction of its demonstration-scale plant, with remaining funds allocated to research and development, general corporate purposes and working capital.

The offering was conducted under an effective shelf registration statement filed with the Securities and Exchange Commission on December 15, 2025. Securities were offered only to U.S. purchasers, with no sales to Canadian buyers.

Aduro develops water-based technologies for chemically recycling waste plastics, converting heavy crude and bitumen into lighter oils, and transforming renewable oils into higher-value fuels. The company's Hydrochemolytic technology operates at relatively low temperatures using water as a critical chemical agent.

The information is based on a company press release statement.

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