The Elmet Group, which makes critical materials and high-power microwave products for aerospace and defense, announced terms for its IPO on Tuesday.
The Portland, ME-based company plans to raise $100 million by offering 7.7 million shares at a price range of $12 to $14.
Elmet manufactures precision components and engineered systems using refractory metals such as tungsten, molybdenum, and niobium, along with high-power microwave technologies. Its products are designed for applications that require performance in extreme heat, electromagnetic intensity, and other demanding operating environments, including aerospace, defense, semiconductor equipment, medical devices, industrial systems, and energy infrastructure. The company’s operations span material processing, machining, fabrication, and engineered microwave components, giving it a vertically integrated manufacturing model that supports both custom parts and specialized system-level solutions.
The Elmet Group was founded in 1929 and booked $202 million in revenue for the 12 months ended December 31, 2025. It plans to list on the Nasdaq under the symbol ELMT. Cantor Fitzgerald, Needham & Co., Canaccord Genuity, and Roth Capital are the joint bookrunners on the deal. It is expected to price the week of April 20, 2026.
