Amaero files for $52.6 million IPO and Nasdaq listing
According to a September 18 filing with the US Securities and Exchange Commission (SEC), Amaero Inc, McDonald, Tennessee, USA, has filed for a proposed US initial public offering (IPO) and Nasdaq listing. The company said it plans to offer 7,456,500 shares of common stock and has applied to list its shares on the Nasdaq Global Select Market under the ticker AMRO.
Amaero produces spherical refractory and titanium alloy powders for Additive Manufacturing, as well as large near-net-shape components produced by Powder Metallurgy Hot Isostatic Pressing (PM-HIP). Based on an assumed offering price of $7.06 per share, the offering would have a gross value of approximately $52.6 million.
The company stated that the final offering price will be determined through negotiations between Amaero and the underwriters.
Amaero estimated net proceeds of approximately $46.1 million after underwriting discounts, commissions and estimated offering expenses. This could increase to approximately $53.4 million if the underwriters exercise in full an option to purchase up to a further 1,118,475 shares.
If successful, the company intends to use up to approximately $17.5 million of the proceeds to purchase capital equipment over the next twelve months. The remaining proceeds are expected to be used for general corporate purposes, including working capital, operating expenses and research and development. Amaero stated that a portion could also be used for acquisitions or investments, although it currently has no agreements or commitments for such transactions.
Amaero’s manufacturing operations are located at its AS9100D-certified facility in McDonald. The company currently operates three Electrode Induction Melting Inert Gas Atomisation (EIGA) systems, with a fourth scheduled to be commissioned in June 2027.
Amaero reported current annual powder production capacity of 680 tonnes, with a maximum capacity of 720 tonnes depending on product mix. Following commissioning of the fourth atomiser, planned annual capacity is expected to increase to 920 tonnes, with a maximum of 960 tonnes.
The company is also expanding its PM-HIP capabilities for the production of large, complex near-net-shape components. As of June 30, 2026, Amaero reported active PM-HIP contracts with nine customers across the defence, aerospace, industrial and energy sectors. This includes a previously reported low-rate initial production contract to manufacture components in support of the US submarine industrial base, following development work with BPMI and the US Navy.
For the six months ended June 30, 2026, Amaero reported revenue of approximately $7.4 million, compared with $1.2 million in the corresponding period of 2025. Net loss attributable to Amaero stockholders was approximately $13.4 million, compared with $8.7 million in the first half of 2025. As of June 30, the company reported total indebtedness of $19.6 million.
Amaero’s business was founded in Australia in 2013 and listed on the ASX in 2019. The company subsequently relocated its manufacturing and corporate headquarters to Tennessee and completed the redomiciliation of its parent company from Australia to Delaware in June 2026.
