Aduro Clean Technologies Announces Closing of US$4 Million Uplisting to Nasdaq
Aduro Clean Technologies has announced the closing of its US$4 million underwritten public offering and uplisting to Nasdaq. The company offered 941,177 common shares at US$4.25 per share, with trading commencing on November 7, 2024, under the ticker 'ADUR'. The underwriters have a 45-day option to purchase an additional 141,176 shares.
The proceeds will fund research and development, construction of the 'Next Generation Process' unit, and general corporate purposes. Craft Capital Management led the offering with EF Hutton as co-underwriter. The offering was not available to Canadian residents.
Aduro Clean Technologies ha annunciato la chiusura della sua offerta pubblica garantita da 4 milioni di dollari USA e il passaggio a Nasdaq. L'azienda ha offerto 941.177 azioni ordinarie a 4,25 dollari USA per azione, con il trading che inizierà il 7 novembre 2024, sotto il ticker 'ADUR'. Gli underwriter hanno un'opzione di acquisto di ulteriori 141.176 azioni per un periodo di 45 giorni.
I proventi finanzieranno la ricerca e sviluppo, la costruzione dell'unità 'Next Generation Process' e scopi aziendali generali. Craft Capital Management ha guidato l'offerta con EF Hutton come co-underwriter. L'offerta non era disponibile per i residenti canadesi.
Aduro Clean Technologies ha anunciado el cierre de su oferta pública garantizada de 4 millones de dólares estadounidenses y su listado en Nasdaq. La compañía ofreció 941,177 acciones comunes a 4.25 dólares estadounidenses por acción, con las negociaciones comenzando el 7 de noviembre de 2024, bajo el ticker 'ADUR'. Los suscriptores tienen una opción de 45 días para adquirir 141,176 acciones adicionales.
Los ingresos se destinarán a la investigación y desarrollo, la construcción de la unidad 'Next Generation Process' y fines corporativos generales. Craft Capital Management lideró la oferta con EF Hutton como co-suscriptor. La oferta no estaba disponible para los residentes canadienses.
Aduro Clean Technologies는 400만 달러 규모의 공모주 발표 종료와 Nasdaq 상장 소식을 전했습니다. 회사는 주당 4.25달러에 941,177주의 보통주를 제공하였으며, 거래는 2024년 11월 7일 시작될 예정입니다. 주식은 'ADUR'라는 티커로 거래됩니다. 인수인은 45일 동안 추가로 141,176주를 구매할 수 있는 옵션을 가집니다.
기금은 연구 및 개발, '차세대 프로세스' 유닛의 건설, 그리고 일반 기업 목적에 사용될 예정입니다. Craft Capital Management가 이번 공모를 주도했으며, EF Hutton이 공동 인수인으로 참여했습니다. 이번 공모는 캐나다 거주자에게는 제공되지 않았습니다.
Aduro Clean Technologies a annoncé la clôture de son offre publique souscrite de 4 millions de dollars américains et son inscription sur Nasdaq. L'entreprise a proposé 941.177 actions ordinaires à 4,25 dollars américains par action, avec le début des transactions prévu pour le 7 novembre 2024, sous le ticker 'ADUR'. Les souscripteurs disposent d'une option de 45 jours pour acheter 141.176 actions supplémentaires.
Les fonds seront utilisés pour financer la recherche et le développement, la construction de l'unité 'Next Generation Process' et des fins corporatives générales. Craft Capital Management a dirigé l'offre avec EF Hutton en tant que co-souscripteur. L'offre n'était pas disponible pour les résidents canadiens.
Aduro Clean Technologies hat den Abschluss ihres öffentlich garantierten Angebots in Höhe von 4 Millionen US-Dollar und die Notierung bei Nasdaq angekündigt. Das Unternehmen bot 941.177 Stammaktien zu einem Preis von 4,25 US-Dollar pro Aktie an, wobei der Handel am 7. November 2024 unter dem Ticker 'ADUR' beginnen wird. Die Underwriter haben eine 45-tägige Option zum Kauf von zusätzlich 141.176 Aktien.
Die Einnahmen werden zur Finanzierung von Forschung und Entwicklung, dem Bau der 'Next Generation Process'-Einheit und allgemeinen Unternehmenszwecken verwendet. Craft Capital Management leitete das Angebot mit EF Hutton als Co-Underwriter. Das Angebot war nicht für kanadische Einwohner verfügbar.
- Successfully raised US$4 million through public offering
- Achieved uplisting to Nasdaq Capital Market
- Underwriters granted option for additional 15% share purchase
- Potential dilution of existing shareholders through new share issuance
Insights
The
The capital allocation strategy focuses on R&D and the construction of their "Next Generation Process" unit, which is essential for commercializing their Hydrochemolytic™ technology. This water-based chemical recycling technology could position Aduro competitively in the growing sustainable materials market. However, investors should note that as an early-stage company, significant execution risks remain in technology development and market adoption.
LONDON, Ontario, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (Nasdaq: ADUR) (CSE: ACT) (FSE: 9D5), a clean technology company using the power of chemistry to transform lower value feedstocks, like waste plastics, heavy bitumen, and renewable oils, into resources for the 21st century, today announced the closing of its underwritten U.S. public offering (the “Offering”) of 941,177 common shares at a public offering price of US
The Company received aggregate gross proceeds of approximately US
Net proceeds from the Offering will be used for ongoing research and development costs, expenditures related to the construction of its "Next Generation Process" unit, and the remainder (if any) for general corporate purposes and working capital.
Craft Capital Management LLC acted as the representative of the underwriters, with EF Hutton LLC acting as co-underwriter for the Offering.
The common shares of the Offering referenced above were not offered to residents of Canada or persons in Canada.
A registration statement on Form F-1 relating to the Offering was filed with the Securities and Exchange Commission (the “SEC”) (File Number: 333-280955), as amended, and was declared effective by the SEC on October 29, 2024. The Offering was made only by means of a prospectus forming a part of the registration statement. Copies of the prospectus relating to the Offering may be obtained from EF Hutton at 590 Madison Avenue, 39th Floor, New York, NY 10022, or via email at syndicate@efhutton.com or telephone at (212) 970-5150. In addition, copies of the prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Aduro Clean Technologies
Aduro Clean Technologies is a developer of patented water-based technologies to chemically recycle waste plastics; convert heavy crude and bitumen into lighter, more valuable oil; and transform renewable oils into higher-value fuels or renewable chemicals. The Company’s Hydrochemolytic™ technology relies on water as a critical agent in a chemistry platform that operates at relatively low temperatures and cost, a game-changing approach that converts low-value feedstocks into resources for the 21st century.
For further information, please contact:
Abe Dyck, Investor Relations
ir@adurocleantech.com
+1 226 784 8889
KCSA Strategic Communications
Jack Perkins, Vice President
aduro@kcsa.com
Forward-Looking Statements
This press release contains forward-looking statements regarding the Company’s current expectations. These forward-looking statements include, without limitation, references to the Company’s anticipated use of net proceeds from the Offering. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to factors that result in changes to the Company's anticipated use of proceeds. These and other risks and uncertainties are described more fully in the section captioned "Risk Factors" in the Company’s Registration Statement on Form F-1 related to the public offering (SEC File No. 333-280955). Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law, including the securities laws of the United States and Canada.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/abc02ab1-ee58-4d72-ac65-effe4b62bdde
FAQ
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