Aduro Clean Technologies Announces Filing of Registration Statement in Connection with Proposed Initial Public Offering in the United States
Aduro Clean Technologies Inc. (CSE: ACT) (OTCQX: ACTHF) has filed a registration statement with the SEC for a proposed initial public offering of its common shares in the United States. The company has also applied to list its shares on the NYSE American exchange. The offering size and price are yet to be determined. EF Hutton is acting as the sole book-running manager.
In preparation for the NYSE listing, Aduro plans to consolidate its issued and outstanding common shares at a ratio to be determined. The offering is subject to SEC review, market conditions, and other factors. Aduro develops water-based technologies to recycle waste plastics, convert heavy crude into lighter oil, and transform renewable oils into higher-value fuels or chemicals.
Aduro Clean Technologies Inc. (CSE: ACT) (OTCQX: ACTHF) ha presentato una dichiarazione di registrazione alla SEC per un proposto collocamento iniziale di azioni ordinarie negli Stati Uniti. L'azienda ha inoltre fatto richiesta per listare le sue azioni sul mercato NYSE American. La dimensione e il prezzo dell'offerta devono ancora essere determinati. EF Hutton funge da unico gestore della registrazione.
In preparazione per la quotazione al NYSE, Aduro prevede di consolidare le sue azioni ordinarie emesse e in circolazione in un rapporto che sarà determinato. L'offerta è soggetta a revisione da parte della SEC, condizioni di mercato e altri fattori. Aduro sviluppa tecnologie a base d'acqua per riciclare plastiche di scarto, convertire petrolio grezzo pesante in petrolio più leggero e trasformare oli rinnovabili in combustibili o prodotti chimici di maggior valore.
Aduro Clean Technologies Inc. (CSE: ACT) (OTCQX: ACTHF) ha presentado una declaración de registro ante la SEC para una oferta pública inicial propuesta de sus acciones ordinarias en los Estados Unidos. La empresa también ha solicitado listar sus acciones en la bolsa NYSE American. El tamaño y el precio de la oferta aún están por determinarse. EF Hutton actúa como el único gerente de libro.
En preparación para la cotización en el NYSE, Aduro planea consolidar sus acciones ordinarias emitidas y en circulación en una proporción que se determinará. La oferta está sujeta a la revisión de la SEC, condiciones del mercado y otros factores. Aduro desarrolla tecnologías basadas en agua para reciclar plásticos desechados, convertir crudo pesado en petróleo más ligero y transformar aceites renovables en combustibles o productos químicos de mayor valor.
Aduro Clean Technologies Inc. (CSE: ACT) (OTCQX: ACTHF)는 미국에서 자사의 보통주에 대한 상장등록신청서를 SEC에 제출했습니다. 이 회사는 또한 NYSE American 거래소에 주식을 상장하기 위해 신청했습니다. 공모 규모와 가격은 아직 결정되지 않았습니다. EF Hutton은 단독 주관사로 활동하고 있습니다.
NYSE 상장 준비를 위해, Aduro는 발행된 보통주를 합병할 계획인데, 그 비율은 추후 결정될 것입니다. 이 공모는 SEC의 검토와 시장 상황 및 기타 요인에 따라 달라질 수 있습니다. Aduro는 수(水) 기반 기술을 개발하여 폐기물 플라스틱을 재활용하고, 중유를 가벼운 오일로 전환하며, 재생 가능한 오일을 더 높은 가치의 연료나 화학물질로 변환합니다.
Aduro Clean Technologies Inc. (CSE: ACT) (OTCQX: ACTHF) a déposé une déclaration d'enregistrement auprès de la SEC pour une offre publique initiale proposée de ses actions ordinaires aux États-Unis. La société a également demandé à inscrire ses actions sur le marché NYSE American. La taille et le prix de l'offre restent à déterminer. EF Hutton agit en tant que gestionnaire exclusif.
En préparation de l'inscription à la NYSE, Aduro prévoit de consolider ses actions ordinaires émises et en circulation dans un rapport qui sera déterminé. L'offre est soumise à l'examen de la SEC, aux conditions du marché et à d'autres facteurs. Aduro développe des technologies à base d'eau pour recycler les plastiques de déchets, convertir le pétrole brut lourd en pétrole plus léger, et transformer les huiles renouvelables en combustibles ou produits chimiques de plus grande valeur.
Aduro Clean Technologies Inc. (CSE: ACT) (OTCQX: ACTHF) hat eine Registrierungsmitteilung bei der SEC für eine vorgeschlagene erste öffentliche Aktienplatzierung ihrer Stammaktien in den Vereinigten Staaten eingereicht. Das Unternehmen hat außerdem beantragt, seine Aktien an der NYSE American Börse zu listen. Die Größe und der Preis des Angebots müssen noch festgelegt werden. EF Hutton fungiert als alleiniger Book-Running Manager.
Zur Vorbereitung auf die NYSE-Notierung plant Aduro, ihre ausgegebenen und ausstehenden Stammaktien zu konsolidieren in einem Verhältnis, das noch festgelegt werden soll. Das Angebot unterliegt der Genehmigung durch die SEC, den Marktbedingungen und anderen Faktoren. Aduro entwickelt wasserbasierte Technologien, um Abfallkunststoffe zu recyceln, schweres Rohöl in leichteres Öl umzuwandeln und erneuerbare Öle in höherwertige Kraftstoffe oder Chemikalien zu verwandeln.
- Potential uplisting to NYSE American exchange, which could increase visibility and liquidity
- Planned initial public offering in the United States, potentially expanding investor base
- EF Hutton acting as sole book-running manager, providing professional support for the offering
- Potential share dilution for existing shareholders due to the new offering
- Uncertainty regarding the offering size, price, and completion timeline
- Planned share consolidation, which may affect current shareholders' holdings
LONDON, Ontario, July 23, 2024 (GLOBE NEWSWIRE) -- Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (CSE: ACT) (OTCQX: ACTHF) (FSE: 9D50), a Canadian 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, is pleased to announce that it has publicly filed a registration statement on Form F-1 with the Securities and Exchange Commission (the “SEC”) relating to a proposed initial public offering of its common shares in the United States (the “Offering”).
In connection with the Offering, Aduro has also applied to list its common shares on the NYSE American exchange (“NYSE”). The number of shares to be offered and the offering price for the Offering have not yet been determined. The Offering is expected to take place after the SEC completes its review process, subject to market and other customary conditions, and there can be no assurance as to whether or when the Offering may be completed, as to the actual size or terms of the Offering, or whether the common shares will be accepted for trading on the NYSE.
EF Hutton LLC is acting as sole book-running manager for proposed Offering.
The proposed Offering will be made pursuant to a prospectus. Copies of the preliminary prospectus related to the Offering, when available, may be obtained on the SEC’s website, www.sec.gov, or upon request from: EF Hutton LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022.
In addition to, and in preparation for, the new listing on NYSE, and subject to approval by the Canadian Securities Exchange (the “CSE”), Aduro will undertake a consolidation of its issued and outstanding common shares at a consolidation ratio to be determined in the coming weeks.
A registration statement relating to the proposed Offering has been filed with the SEC but has not yet become effective. Securities offered under the registration statement may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell, or a solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act or 1933, as amended.
The common shares of the proposed Offering referenced above are not being offered to residents of Canada or persons in Canada. The common shares are being sold based on prospectus exemptions under applicable Canadian securities laws, and on the basis that the securities will not be distributed back into Canada.
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:
Ofer Vicus, CEO
ovicus@adurocleantech.com
Abe Dyck, Investor Relations
ir@adurocleantech.com
+1 226 784 8889
Forward-Looking Statements
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events, or developments that the Company believes, expects, or anticipates will or may occur in the future, are forward-looking statements. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements. In this release, the forward looking statements include, but are not limited to, the proposed initial public offering of the Company’s common shares in the United States, the registration of the Company’s common shares with the SEC; a listing of the Company’s common shares on the NYSE; and the implementation and details of the consolidation. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, regulatory filings may not be filed or approved on a timely basis, or at all; the Company’s common shares may not be accepted for registration by the SEC on a timely basis, or at all; the Company may not proceed with the initial public offering of the Company’s common shares in the United States or a listing of the Company’s common shares on the NYSE on a timely basis, or at all; the Company may not implement the consolidation on a timely basis, or at all; that the Company may fail to commercialize its technology or that its technology may not be accepted commercially, for various reasons; and that other unexpected adverse market conditions may negatively affect the Company and its progress, including various other factors beyond the control of the parties. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events, or otherwise, except as required by applicable law.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/1ee54ee8-d974-46bc-8456-fe05c8384903
FAQ
What is the purpose of Aduro Clean Technologies' (ACTHF) registration statement filing?
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