17 September 2024 | Amaero International Limited (ASX: 3DA) (“Amaero” or “the Company”) is pleased to announce the completion of an upsized placement to raise A$25 million following strong demand from existing institutional shareholders, as well as new investors in Australia and abroad. The funds raised will enable Amaero to accelerate growth plans, including the acquisition of key equipment and enhancements to its U.S. headquarters.
Highlights:
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Upsized Placement: The Company has raised A$25 million through the issuance of approximately 71.4 million new fully paid ordinary shares at A$0.35 per share, which represents a 4.1% discount to the last closing price.
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Investor Support: The placement saw significant oversubscription, leading to the Company increasing the initial raise target from A$20 million to A$25 million.
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Use of Funds: The funds will go toward capital equipment purchases, including a second atomizer for powder production, as well as the fit-out and improvements for the 130 Innovation Drive facility in Tennessee.
Hank J. Holland, Chairman and CEO of Amaero, commented: “Amaero would like to thank existing institutional shareholders for their strong ongoing support and to welcome new Australian and international institutional funds to our register. Given that investor demand substantially exceeded the initially targeted raise of A$20 million, the Company elected to upsize the offering to A$25 million. This capital raising, along with qualification of C103 AM powder and the accompanying offtake and preferred supplier agreement with ADDMAN Group are culminating milestones and position Amaero as the largest capacity and most responsive U.S. domestic producer of C103, refractory and specialty alloy powder for additive manufacturing.”
Placement Details:
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New Shares: The placement will see an issuance of approximately 71.4 million new fully paid ordinary shares, representing 13.1% of Amaero’s existing issued capital.
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Tranche 1: Approximately A$19.6 million (56.1 million shares) will be issued under the Company’s existing placement capacity.
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Tranche 2: Approximately A$5.4 million (15.4 million shares) will be issued, subject to shareholder approval at the upcoming Annual General Meeting (AGM) on 29 October 2024.
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- The funds raised have been allocated as follows:
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A$12.8 million for capital equipment, including the purchase of a second atomizer.
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A$10.8 million for facility fit-out and improvements at Amaero’s Tennessee headquarters.
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A$1.3 million for placement costs.
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Hank J. Holland
Chairman and CEO
hank.holland@amaeroinc.com
Jane Morgan
Investor and Media Relations
jm@janemorganmanagement.com.au
About us:
About Amaero International Limited:
Amaero International Limited (ASX:3DA) is an ASX-listed company with manufacturing and corporate headquarters located in Tennessee, USA. Amaero is a leading U.S. domestic producer of high-value C103, refractory alloy, and titanium powders for additive and advanced manufacturing of components utilized by the defense, space, and aviation industries. The technical and manufacturing team brings decades of experience and know-how with pioneering work in gas atomization of refractory and titanium alloys. The company has commissioned advanced gas atomization technology with an industry leading yield of AM powder. The company is also a leader in Isostatic Powder Processing (IPP) manufacturing of large near-net-shape powder metallurgy parts with forged-equivalent material properties and microstructure for a variety of alloys. IPP is helping alleviate the strained domestic supply chain for castings and forgings of large components.
For further information, please visit: https://www.amaeroinc.com
Contact details:
Jane Morgan
Jane Morgan Management
Investor and Media Relations
jm@janemorganmanagement.com.au