LONDON, Ontario, Dec. 03, 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 21 st century, today announced that the underwriters of its underwritten U.

S. public offering (the “Offering”) have partially exercised their over-allotment option to purchase an additional 100,000 common shares at the public offering price of US$4.25 per share.

After giving effect to the partial exercise of the over-allotment option, the Company sold an aggregate 1,041,177 common shares for gross proceeds of approximately US$4.43 million, before deducting underwriter discounts and other related expenses. The option closing date was December 3, 2024.

The common shares began trading on The Nasdaq Capital Market on November 7, 2024, under the ticker symbol “ADUR”. Aduro expects to use the net proceeds from the Offering 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, and D.

Boral Capital LLC (formerly known as EF Hutton LLC) acted as the co-underwriter for the Offering. The common shares of the Offering referenced ab.