Amaero (AMRO.US), a producer of titanium and refractory metal powders used in 3D printing for defense and aerospace applications, on Thursday relaunched its US initial public offering and filed updated documents with the US Securities and Exchange Commission disclosing a reduced offering size.

The company, which is already listed on the Australian Securities Exchange, had previously attempted a cross-listing on the Nasdaq in September but postponed those plans due to unfavorable market conditions. A specific timing for the IPO has not yet been determined.

The Tennessee-based company, headquartered in McDonald, now plans to offer 3.9 million shares at an assumed price of $5.15 per share, raising $20 million. That price represents a conversion of Amaero's latest share price on the Australian Securities Exchange.

The company had previously filed to offer 7.5 million shares at $7.06 per share, aiming to raise up to $53 million. Under the revised terms, Amaero's proceeds will be 62% lower than previously expected, and its fully diluted market value will be $143 million, a 35% decline from earlier projections.

Amaero specializes in refractory metal and titanium alloy spherical metal powders for additive manufacturing, and also provides large near-net-shape components produced through powder metallurgy hot isostatic pressing. Its products cover powder materials including niobium, tungsten, tantalum, molybdenum, rhenium and titanium alloys, designed for 3D printing of critical components used in hypersonic weapons systems, satellite propulsion, strategic missiles, aerospace and medical fields.

Amaero was founded in 2013. For the 12 months ended June 30, 2026, the company generated revenue of approximately $12 million. It plans to list on the Nasdaq under the ticker symbol "AMRO."

Baird and Lake Street Capital Markets are serving as joint bookrunners for the transaction, while original lead underwriter Stifel is no longer acting as an underwriter.