ELMT · Elmet Group Co.

The Elmet Group Co. completed its upsized initial public offering on April 24, 2026, selling a total of 9,857,142 shares (including full exercise of the overallotment option) at $14.00 per share. The offering generated aggregate gross proceeds of approximately $138 million and net proceeds of approximately $125.5 million after deducting underwriting discounts and offering expenses. The common stock began trading on the Nasdaq Capital Market on April 23, 2026 under the ticker symbol 'ELMT'. The company intends to use the net proceeds to repay debt, with the remainder allocated to growth capital, working capital, and general corporate purposes. As partial compensation for its services, the company issued to the representative a warrant to purchase up to 147,857 shares at an exercise price of $17.50 per share, exercisable for a term of four years commencing 180 days after the commencement of sales. Additionally, in connection with the closing, the company's amended and restated bylaws became effective, establishing a quorum threshold of one-third of outstanding shares and updating procedures for meetings, director nominations, and other governance matters. The IPO represents a significant liquidity event for the company, providing capital to strengthen its balance sheet and fund growth initiatives.