Aduro Raises US$22.8M via US$15.20 Share Offering for FOAK Plant Funding
ADUR•Aduro Clean Technologies priced an underwritten public offering of 1,028,645 shares at US$15.20 each for gross proceeds of US$15.64 million and launched a concurrent private placement of 471,698 shares for US$7.17 million, raising US$22.8 million in total. Net proceeds will fund FOAK demonstration plant engineering, R&D, and working capital.
1. Underwritten Public Offering and Private Placement
Aduro Clean Technologies is conducting an underwritten offering of 1,028,645 common shares at US$15.20 per share for gross proceeds of US$15.64 million, alongside a concurrent private placement of up to 471,698 shares at the same price for gross proceeds of US$7.17 million, targeting total gross proceeds of US$22.8 million. Canaccord Genuity serves as sole bookrunner for the public offering.
2. Proceeds Allocation and FOAK Plant Development
Net proceeds from the combined offering will fund the design, engineering, and construction of Aduro’s first-of-a-kind demonstration-scale industrial plant, support ongoing research and development efforts, and provide additional working capital for general corporate purposes.
3. Closing Conditions and Regulatory Listings
The public offering is expected to close on or about June 11, 2026, subject to customary closing conditions, including the listing of the offered shares on the TSX and Nasdaq, while the private placement may close in one or more tranches within 45 days of the announcement.
