The Elmet Group Upsized IPO Closes

The Elmet Group, a U.S.-based provider of precision-engineered components and advanced high-energy systems, announced the closing of its upsized initial public offering (IPO). The company sold approximately 9.9 million shares of its common stock at $14.00 per share, including the full exercise of the underwriters' overallotment option, resulting in aggregate net proceeds of $125.5 million. The shares began trading on the Nasdaq Capital Market on April 23, 2026, under the ticker symbol 'ELMT'. The Elmet Group intends to use the proceeds to repay debt, fund growth capital, working capital, and for general corporate purposes. Cantor Fitzgerald acted as the lead book-running manager, with Needham & Company and Canaccord Genuity as joint book-running managers, and GHO Capital Partners as co-manager. The United States — United States Securities and Exchange Commission declared the registration statement effective on April 22, 2026.