Breaking News: Aduro Clean Technologies Exercises Over-Allotment Option for Second Time!
LONDON, Ontario, Dec. 11, 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 21ˢᵗ century, today announced that the underwriters of its underwritten U.S. public offering (the “Offering”) have, for a second time, partially exercised their over-allotment option to purchase an additional 22,470 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 1,063,647 common shares for gross proceeds of approximately US$4.52 million, before deducting underwriter discounts and other related expenses.
With the innovative work of Aduro Clean Technologies, the company continues to make strides in the clean technology industry. By transforming waste plastics, heavy bitumen, and renewable oils into valuable resources, Aduro is contributing to a more sustainable future for the 21st century. The recent exercise of the over-allotment option for the second time indicates a growing interest in the company’s offerings and reflects positively on its potential for further growth and success.
Investors and stakeholders in the clean technology sector are likely to take note of Aduro’s continued progress and may view this latest development as a promising sign of the company’s financial health and market viability. The gross proceeds from the sale of additional common shares will enable Aduro to further invest in research and development, expand its operations, and pursue new opportunities for innovation in the clean technology space.
How This News will affect me:
For individual investors, this news may present an opportunity to consider Aduro Clean Technologies as a potential investment option. The company’s focus on sustainable solutions and its successful public offering could make it an attractive choice for those looking to support environmentally-friendly businesses while seeking financial returns.
How This News will affect the world:
On a global scale, Aduro’s advancements in clean technology have the potential to make a significant impact on environmental conservation and resource management. By repurposing waste materials and converting them into valuable resources, the company is contributing to the circular economy and reducing the overall carbon footprint of various industries. This innovative approach to sustainability can inspire other companies to adopt similar practices and accelerate the transition towards a more environmentally-conscious future.
Conclusion:
As Aduro Clean Technologies exercises its over-allotment option for the second time, the company demonstrates its commitment to driving positive change in the clean technology sector. The sale of additional common shares signifies continued investor confidence in Aduro’s mission and potential for growth. This news not only has implications for individual investors but also sets a positive example for the world by promoting sustainable practices and innovative solutions for a cleaner, greener future.
