Aduro Clean Technologies Announces Pricing of US$20 Million Underwritten Public Offering

Executive Summary

• Aduro Clean Technologies priced an underwritten U.S. public offering of 1,739,130 common shares with accompanying warrants, generating gross proceeds of approximately US$20 million.
• The offering includes a half‑warrant structure (exercise price US$16.00) and grants the lead underwriter a 45‑day over‑allotment option for up to an additional 260,869 shares (or related warrants).
• Net proceeds are earmarked primarily for construction of the company’s Demonstration‑Scale Plant, with any remainder allocated to R&D, general corporate purposes, and working capital.

Key Details

• Securities Offered:
• 1,739,130 common shares
• Warrants to purchase 869,565 common shares (half‑warrant; each whole warrant = one share)
• Pricing & Proceeds:
• Gross proceeds ≈ US$20 million before underwriting discounts and expenses.
• Warrant Terms:
• Exercise price: US$16.00 per share
• Exercisable immediately upon issuance
• Expiration: 3 years from issuance date
• Underwriters & Advisors:
• Lead underwriter: D. Boral Capital LLC
• Financial advisor: Roth Capital Partners
• Over‑Allotment Option:
• Up to 260,869 additional common shares and/or warrants for 130,434 additional common shares may be purchased within a 45‑day period.
• Closing Timeline:
• Expected closing on or about December 22, 2025, subject to customary conditions.
• Regulatory Filings:
• Offering made under an effective shelf registration statement (Form F‑10, File No. 333‑292023) filed December 15, 2025.
• Canadian short‑form base shelf prospectus dated December 15, 2025 also referenced.
• Use of Proceeds:
• Primary: Construction of the Demonstration‑Scale Plant.
• Secondary (if any funds remain): Ongoing research & development, general corporate purposes, and working capital.

Notable Quotes

(No executive quotes were included in the release.)