Sydney, Australia – 11 February 2025 – Amaero International Limited (ASX:3DA) is pleased to announce that it has successfully completed the bookbuild for an institutional placement to raise approximately A$22 million.
Key Highlights
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Amaero successfully completed an institutional placement to raise A$22 million following strong support from existing cornerstone institutional investors as well as a new U.S-based institutional investor.
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Capital raising was fully subscribed by Pegasus Growth Capital, the Amaero Board, four lead institutional investors, and a new U.S-based institutional investor. Following the capital raise, Regal Funds Management and IFM Investors will join Pegasus Growth Capital and Fidelity International as substantial investors.
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The offer was priced at A$0.30 per share, a 10.4% discount to the last closing price and this Placement concludes a series of six strategic equity capital raises since May 2022, totalling A$98.5 million.
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Post transaction pro forma cash balance of approximately A$41.5 million, in addition to the recent A$37.8M loan from Export-Import Bank of the United States, providing a strong balance sheet and fully funded position as Amaero transitions to commercialisation in FY2026.
Hank J. Holland, Amaero Chairman and CEO, commented:
“As we transition to commercialisation in FY2026, this equity capital raise concludes a series of strategic capital raises since May 2022 that have totalled approximately A$100 million. This financing satisfies the precedent condition in the recently announced EXIM Bank loan to complete capital raise prior to 1st loan draw and it fully funds the planned capital expenditures and operations through anticipated EBITDA breakeven in FY2026. This marks a significant milestone for Amaero. We are pleased that Regal Funds Management and IFM Investors will join Pegasus Growth Capital and Fidelity International as substantial investors and we are pleased to add a U.S. institutional investor.
With the support of our stakeholders, we continue to focus on our strategic positioning as the largest capacity and most responsive U.S. domestic producer of C103, refractory, and specialty AM powders for additive manufacturing. And, our pioneering PM-HIP manufacturing of large near-net-shape parts provides an important substitute for castings and forgings. We have taken bold and deliberate action to address critical gaps in the United States’ supply chain and to create a more resilient and more scalable domestic manufacturing capability for mission-critical defense, space and aerospace applications.
Our strong balance sheet, first mover advantage and differentiated capability, coupled with the United States’ priority initiatives to re-shore, re-build and scale industrial base capabilities creates an enduring long-term opportunity for Amaero and its shareholders.”
Summary of Placement
The Company will issue approximately 73.3 million new fully paid ordinary shares to eligible sophisticated, professional and institutional investors at a price of A$0.30 per New Share.
Following completion of the Placement, New Shares under the Placement represents 11.9% of Amaero’s existing issued capital.
Curran & Co acted as Sole Lead Manager and Sole Book Runner to the Placement and Gilbert + Tobin acted as Australian Legal Advisor to the Company.
About us:
About Amaero International Limited
Amaero International Limited (ASX:3DA) is an ASX-listed company with manufacturing and corporate headquarters located in Tennessee, U.S. Amaero is a leading U.S. domestic producer of high-value C103, refractory alloy, and titanium powders for additive and advanced manufacturing of components utilised 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 PM-HIP (Powder Metallurgy Hot Isostatic Pressing) manufacturing of large, nearnet-shape powder metallurgy parts with forged-equivalent material properties and microstructure for a variety of alloys. PM-HIP manufacturing is helping alleviate the strained domestic supply chain for large scale castings and forgings.
Contact details:
Media & Investor Relations
Jane Morgan
Director
[email protected]