Titomic raises $16.5M in capital placement
- Titomic has received firm commitments for a $16.5 million institutional placement to issue approximately 126.9 million new ordinary shares.
- The placement was priced at $0.13 per share.
- Funds will scale capacity at the Huntsville facility and support U.S. expansion to reach projected cash flow breakeven in 2027.
Titomic (ASX:TTT) has secured $16.5 million through a non-underwritten equity placement to fund its United States growth plans.
The issuance of 126.9 million new shares represents approximately 7.9% of existing shares on issue.
"The U.S. business is seeing strong momentum with four new orders received in the recent two weeks, and we expect a strong increase in global orders for the remainder of 2026," said Titomic Executive Chairman Dag W.R. Stromme.
Proceeds will support additional equipment at the Huntsville plant, expansionary hiring, digital enhancements, and an advanced US$10 million EXIM Bank loan application.
The company stated that the capital extends its operational runway through to projected cash flow breakeven during 2027.
Following the announcement, the Titomic share price was down at $0.14.
The advanced manufacturing group uses cold spray technology to serve global industrial markets.
Titomic is preparing to redomicile to the United States in the fourth quarter of 2026 to capture expanding global defence demand.
