Aerospace metal powder supplier Amaero (AMRO.US) IPO priced at $4.25 per share, fundraising amount reduced to $20 millions.

According to Golden Ten Data APP, Amaero (AMRO.US), a supplier of titanium and refractory metal powders for defense and aerospace 3D printing, raised $20 million by issuing 4.7 million shares in a cross-listing on NASDAQ at a price of $4.25 per share. This offering price is slightly below its equivalent latest closing price of approximately $4.31 on the Australian Securities Exchange.

The company initially filed documents in September to issue 7.5 million shares and raise over $50 million, when its share price was equivalent to $7.06; last week, the company reduced the planned offering size.

Amaero produces refractory metals and titanium alloy spherical metal powders for additive manufacturing, as well as large near-net shape components manufactured using powder metallurgy hot isostatic pressing technology. Its range of powder products includes niobium, tungsten, tantalum, molybdenum, rhenium, and titanium alloys, specifically designed for 3D printed parts in hypersonic weapon systems, satellite propulsion, strategic missiles, aerospace, and medical applications.

This Tennessee-based company, located in McDonald, will be listed on NASDAQ under the ticker AMRO. Baird and Lake Street Capital Markets are serving as joint bookrunners for this transaction.