Amaero, a producer of titanium and refractory metal powders for defense and aerospace 3D printing, revived its US IPO plans on Thursday with a new SEC filing disclosing a lower proposed share offering. Listed on the Australian Securities Exchange (ASX: 3DA), Amaero had previously attempted a Nasdaq cross-listing in September, before postponing the offering citing adverse market conditions. IPO timing has not been determined.
The McDonald, TN-based company now plans to raise $20 million by offering 3.9 million shares at an assumed offer price of $5.15, the converted last reported trading price of its ASX-listed securities. The company had previously filed to raise as much as $53 million by offering 7.5 million shares at $7.06. At the revised terms, Amaero will raise 62% less in proceeds than previously anticipated and command a fully diluted market value of $143 million (-35% versus previous terms).
Amaero produces refractory and titanium alloy spherical metal powders for additive manufacturing, along with large near-net-shape components made using powder metallurgy hot isostatic pressing. The company's powders, which include niobium, tungsten, tantalum, molybdenum, rhenium, and titanium alloys, are engineered for 3D printing of components used in hypersonic weapons systems, satellite propulsion, strategic missiles, aerospace, and medical applications.
Amaero was founded in 2013 and booked $12 million in revenue for the 12 months ended June 30, 2026. It plans to list on the Nasdaq under the symbol AMRO. Baird and Lake Street Capital Markets are the joint bookrunners on the deal; former lead manager Stifel is no longer listed as an underwriter.
