Aduro Clean Tech prices 947,868 shares at $8.44 in underwritten public offering

Aduro Clean Tech (ADUR)nologies announced the pricing of its underwritten U.S. public offering of 947,868 common shares, together with accompanying warrants to purchase 473,934 common shares. The combined public offering price per common share and accompanying half warrant is $8.44, for gross proceeds of approximately $8M, before deducting underwriting discounts and offering expenses. The common shares are being sold in combination with an accompanying half warrant. Each whole warrant has an exercise price of $10.13 per share, will become exercisable immediately and will expire three years from the date of issuance. D. Boral Capital is acting as the sole book-running manager for the Offering. Aduro intends to use the net proceeds from the offering for ongoing research and development costs, expenditures related to the construction of its “Demonstration-Scale” plant and the remainder for general corporate purposes and working capital. The Offering is expected to close on or about June 11, 2025, subject to the satisfaction of customary closing conditions. In addition, the Company has granted the underwriters a 45-day over-allotment option to purchase up to an additional 142,180 common shares and/or warrants to purchase an additional 71,090 common shares.