PORTLAND, Maine, April 22, 2026 (GLOBE NEWSWIRE) — The Elmet Group Co. (“Elmet” or the “Company”)a U.S.-based provider of precision-engineered components and advanced high-energy systems, today announced the pricing of its increased initial public offering of approximately 8.6 million shares of its common stock at a public offering price of $14.00 per share, for a total of $120.0 million in gross proceeds.
All ordinary shares are offered by Elmet. The net proceeds to Elmet from the offering, after deducting underwriting discounts, commissions and other offering expenses payable by Elmet, are expected to be approximately $109.0 million. In addition, Elmet has granted the underwriters a 30-day option to purchase an additional approximately 1.3 million shares of Elmet common stock at the initial public offering price, less underwriting discounts and commissions.
The shares are expected to begin trading on the Nasdaq Capital Market on April 23, 2026 under the ticker symbol “ELMT.” The offering is expected to close on April 24, 2026, subject to customary closing conditions.
Elmet currently intends to use the net proceeds it receives from this offering, together with its existing cash and escrow cash, to repay debt, while the remainder will be spent on growth capital, working capital and general corporate purposes.
Cantor is acting as lead book running manager for the offering. Needham & Company and Canaccord Genuity act as joint bookrunning managers. Roth Capital Partners acts as co-manager.
A registration statement (the “Registration Statement”) relating to these securities was declared effective by the Securities and Exchange Commission on April 22, 2026. The offering is being made exclusively by means of a prospectus. A copy of the final prospectus, when available, may be obtained from: Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59e Street, 6e Floor, New York, New York 10022 or by email to prospectus@cantor.com. Copies, when available, may also be obtained by visiting EDGAR on the SEC’s website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About the Elmet group
The Elmet Group is a US-based supplier of precision engineered components and advanced high-energy systems for the aerospace, defense, government, industrial, medical, semiconductor, electronics and energy industries. The company operates through two segments, Critical Materials Components (CMC) and Engineered Microwave Products (EMP), using materials science and precision engineering expertise to deliver high-performance solutions. The Elmet Group is committed to strengthening domestic manufacturing capabilities to support the needs of the U.S. and its allies in both critical materials and advanced high-power microwave systems.
Forward-Looking Statements
The information in this press release contains forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or our future financial or operating performance and include statements regarding the expected size, timing and results of the proposed initial public offering, Elmet’s intended use of proceeds from the initial public offering, the expected commencement of trading on the Nasdaq Capital Market and closing dates. When words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “predict,” “target,” “forecast,” “may,” “would,” “could,” “might,” and “will,” the negative terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management’s current expectations and assumptions and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results may differ materially from those expressed in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements contained in the Registration Statement. Elmet assumes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances subsequent to this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Company contact person
Chris Chandler
contact@theelmetgroup.com
Contact person for investors
Tom Colton and Greg Bradbury
Gateway Group, Inc.
ELMT@gateway-grp.com
949-574-3860
