Elmet Group targets further growth with planned IPO
Precision-engineered components and advanced high-energy systems provider, The Elmet Group, based in Portland, Maine, USA, has announced the launch of a roadshow for its proposed initial public offering (IPO), as the company looks to raise capital to support further growth.
Elmet intends to offer approximately 7.7 million shares of its common stock. The offering is expected to be priced between $12.00-14.00 per share, although final pricing will depend on market conditions. Underwriters are expected to receive a thirty-day option to purchase up to an additional 1.2 million shares at the IPO price, less applicable discounts and commissions.
The Elmet Group works in the aerospace, defence and government, industrial, medical, semiconductor and electronics, and energy industries. The company operates through two segments: Critical Materials Components (CMC) and Engineered Microwave Products (EMP) and is working to strengthen domestic manufacturing capabilities in its areas of expertise.
The CMC division, known as Elmet Technologies, is a vertically integrated manufacturer of critical refractory materials, specialising in tungsten, molybdenum, niobium, tantalum, and specialised alloys. Select products and services include powders (Elmet Powders), mill products, custom components, metal processing, fabrication, and precision machining.
Article: Inside Nikon’s metal AM strategy
Part 2: Scaling industrial production in Long Beach
| Read now |
The company stated that its IPO will be made through a prospectus, which will be available via the US Securities and Exchange Commission (SEC) once the registration statement becomes effective. At present, the registration statement has been filed but is not yet in force, and the securities cannot be sold or purchased until approval is granted.
Further details, including the intended use of proceeds, have not yet been disclosed.
