Aduro Clean Technologies Prices $15.6 Million Public Offering, Private Placement of up to $7.2 Million

MT Newswires Live06-10

Aduro Clean Technologies (ADUR) said Wednesday that it has priced an underwritten US and Canadian public offering of 1.03 million shares at $15.20 per share, for gross proceeds of $15.6 million.

The company said it has also priced a concurrent non-brokered private placement of up to 471,698 shares at the offering price per share, for gross proceeds of up to $7.2 million.

Aduro will use the net proceeds to back the construction of a demonstration-scale industrial plant, research and development costs, and the rest will be for general corporate purposes and working capital, the company said.

The public offering is expected to close on or about Thursday, the company said.

Price: 15.57, Change: -1.31, Percent Change: -7.76

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