The IPO Buzz: The Elmet Group (ELMT) Upsizes IPO & Prices it at $14 – Top of Range
The Elmet Group (ELMT) upsized its IPO to 8.6 million shares at pricing – up from 7.7 million in the prospectus – and priced the IPO at $14.00 – the top of its $12.00-to-$14.00 range – to raise $120.4 million on Wednesday night, April 22, 2026.
Shares of The Elmet Group (ELMT) are set to start trading today – Thursday, April 23,2026 – on the NASDAQ.
At pricing, The Elmet Group (ELMT) had a market cap of $411.56 million.
Cantor, Needham & Co., Canaccord Genuity and Roth Capital Partners were the joint book-runners.
Based in Portland, Maine, The Elmet Group (ELMT) is the only U.S.-owned and U.S.-based manufacturer of highly engineered tungsten and molybdenum products through its Critical Materials Components (CMC) division, the prospectus said. Its Engineered Microwave Products (EMP) division delivers “microwave energy solutions with custom design and development expertise,” according to the prospectus.
The Elmet Group (ELMT) is a U.S. Department of Defense (Department of War) contractor, the prospectus said.
NASA, Lockheed Martin, Raytheon and Teledyne rank among The Elmet Group’s customers in the space sector.
National labs also rely on The Elmet Group (ELMT), the prospectus said.
“Our products are widely used in over 95 national lab programs, including benchmark research and development facilities such as Fermi National Accelerator Laboratory (“Fermi”) and Los Alamos National Laboratory (“Los Alamos”) and many others around the world,” the prospectus said.
The Elmet Group (ELMT) is slightly profitable, according to financial statements in the prospectus: Net income of $5.54 million on revenue of $201.64 million for the 12 months that ended Dec. 31, 2025.
Source: https://www.iposcoop.com/the-ipo-buzz-the-elmet-group-elmt-upsizes-ipo-prices-it-at-14-top-of-range/
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