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

Amaero (AMRO.US), which supplies titanium and refractory metal powders for defense and aerospace 3D printing, priced its Nasdaq cross-listing offering of 4.7 million shares at $4.25 per share, raising $20 million. The offering price is slightly below its latest closing price on the Australian Securities Exchange, which converts to about $4.31. The company initially filed in September to offer 7.5 million shares and raise more than $50 million, when its share price converted to $7.06; last week, the company lowered the proposed offering size. Amaero produces spherical refractory metal and titanium alloy powders for additive manufacturing, as well as large near-net-shape components made using powder metallurgy hot isostatic pressing. Its powder products cover niobium, tungsten, tantalum, molybdenum, rhenium, and titanium alloys, among others, and are designed for 3D-printed parts used in hypersonic weapon systems, satellite propulsion, strategic missiles, aerospace, and medical applications. The McDonald, Tennessee-based company will list on Nasdaq under the ticker AMRO. Baird and Lake Street Capital Markets are serving as joint book-running managers for the transaction.