Aduro Clean Technologies Announces Second Partial Exercise of Over-Allotment Option

Core Viewpoint - Aduro Clean Technologies Inc. has successfully completed a public offering, raising approximately US$4.52 million through the sale of 1,063,647 common shares at a price of US$4.25 per share, with a partial exercise of the over-allotment option [1][2] Group 1: Offering Details - The underwriters partially exercised their over-allotment option to purchase an additional 22,470 common shares [1] - The common shares began trading on The Nasdaq Capital Market under the ticker symbol "ADUR" on November 7, 2024 [1] - The offering was made under a registration statement filed with the U.S. Securities and Exchange Commission, which was declared effective on October 29, 2024 [4] Group 2: Use of Proceeds - The net proceeds from the offering are expected to be used for ongoing research and development costs, expenditures related to the construction of the "Next Generation Process" unit, and general corporate purposes and working capital [2] Group 3: Company Overview - Aduro Clean Technologies specializes in developing patented water-based technologies for recycling waste plastics, converting heavy crude and bitumen into lighter oil, and transforming renewable oils into higher-value fuels or chemicals [6] - The company's Hydrochemolytic™ technology operates at relatively low temperatures and costs, utilizing water as a critical agent in its chemistry platform [6]