Aduro Clean Technologies closes underwriter over-allotment option

Aduro Clean Technologies Inc. (NASDAQ: ADUR) (CSE: ACT) (FSE: 9D5) issued an additional 260,869 common shares and warrants to purchase 130,434 common shares for gross proceeds of approximately $3 million through D. Boral Capital LLC's full exercise of its underwriter's over-allotment option.

The additional shares were sold with accompanying half warrants, with each whole warrant exercisable at $16.00 per share. The warrants are exercisable immediately and expire three years from issuance.

D. Boral Capital LLC served as lead underwriter for the offering, while Roth Capital Partners acted as financial advisor. The transaction was part of the company's underwritten U.S. public offering of common shares and warrants.

Aduro plans to use net proceeds for construction of its demonstration-scale plant, with remaining funds allocated to research and development, general corporate purposes and working capital.

The offering was conducted under an effective shelf registration statement filed with the Securities and Exchange Commission on December 15, 2025. Securities were offered and sold only in the United States, with no sales to Canadian purchasers.

The London, Ontario-based company develops water-based technologies to chemically recycle waste plastics, convert heavy crude and bitumen into lighter oil, and transform renewable oils into higher-value fuels or chemicals using its Hydrochemolytic technology platform.

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