Metal power producer Amaero announces $20m IPO on Nasdaq
US-based, ASX-listed producer of high-value refractory and titanium alloy spherical metal powders Amaero has announced the pricing of its initial public offering (IPO) on Nasdaq.
The company is pricing 4.7-million shares at an IPO price of $4.25 apiece – which is a 1.8% discount to the company’s last closing share price on ASX.
Amaero also granted the underwriters of the IPO a 30-day option to purchase up to an additional 705 000 common shares at the same price.
The company will use about $10-million of the IPO’s net proceeds to purchase capital equipment for its manufacturing plant in Tennessee.
Amaero is also a pioneer in powder metallurgy hot isostatic pressing manufacturing of large near-net-shape components.
Source: Mining Weekly