Aerospace metal powder supplier AmaeroAero (AMRO.US)'s IPO price was 4.25 US dollars/share, and the amount raised was reduced to 20 million US dollars

The Zhitong Finance App learned that Amaero (AMRO.US), which supplies titanium and refractory metal powders for defense and aerospace 3D printing, issued 4.7 million shares through a NASDAQ cross-listing, priced at 4.25 US dollars per share and raised 20 million US dollars. The offering price was slightly lower than its latest closing price on the Australian Stock Exchange, around $4.31.

The company initially submitted documents in September to issue 7.5 million shares and raise more than 50 million US dollars. At that time, its stock price was converted to 7.06 US dollars; last week, the company lowered the proposed issuance scale.

Amaero produces refractory metal and titanium alloy spherical metal powders for additive manufacturing, as well as large, near-net molded parts manufactured using the powder metallurgy hot isostatic pressing process. Its powder products include niobium, tungsten, tantalum, molybdenum, rhenium and titanium alloys, and are specially designed for 3D printed components in hypersonic weapon systems, satellite propulsion, strategic missiles, aerospace and medical applications.

The company, headquartered in McDonald, Tennessee, will be traded on the NASDAQ under the code AMRO. Baird and Lake Street Capital Markets acted as joint bookkeepers for the deal.