Amaero Inc., a Tennessee-based producer of refractory and titanium alloy metal powders and near-net-shape components using powder metallurgy-hot isostatic pressing (PM-HIP), plans to invest up to approximately $10 million in capital equipment over the next 12 months using proceeds from its U.S. initial public offering.
The company announced pricing of 4,705,883 common shares at $4.25 per share, representing approximately $20 million in gross proceeds before underwriting discounts, commissions, and other offering expenses. Remaining net proceeds are intended for general corporate purposes, including working capital, operating expenses, and research and development.
Amaero also produces spherical metal powders for additive and advanced manufacturing and uses PM-HIP to manufacture large near-net-shape components. In its October 14 announcement, the company said the offering was expected to close October 16, subject to customary closing conditions, with shares expected to begin trading October 15 on the Nasdaq Capital Market under the symbol AMRO.
Press release is available in its original form here.
