PORTLAND, Maine, April  24, 2026  (GLOBE NEWSWIRE) -- The Elmet Group Co. (&#34;Elmet&#34; or the &#34;Company&#34;), a U.S.-based provider of precision-engineered components and advanced high-energy systems, today

ELMT

The Elmet Group Co. Announces Closing of Upsized Initial Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares

Elmet Group's IPO Raises $125.5 Million for Debt Repayment and Growth

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  <section data-block="information">
    <h3>Information</h3>
    <p>PORTLAND, Maine, April  24, 2026  (GLOBE NEWSWIRE) -- The Elmet Group Co. (&amp;#34;Elmet&amp;#34; or the &amp;#34;Company&amp;#34;), a U.S.-based provider of precision-engineered components and advanced high-energy systems, today</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Elmet Group has closed its IPO, raising $125.5 million for debt repayment and growth capital. This proactive step positions Elmet for potential advancements in its precision-engineered components business, enhancing its financial stability.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Elmet Group completed an IPO of 9.9 million shares at $14.</li><li>Net proceeds of $125.5 million will repay debt and fund growth.</li><li>Shares began trading on Nasdaq on April 23, 2026.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Cantor Fitzgerald (N/A)</strong>: Led the IPO process, underpinning investor interest.</li><li><strong>Needham &amp; Company (N/A)</strong>: Jointly managed the IPO alongside Cantor, indicating strong backing.</li><li><strong>Canaccord Genuity (N/A)</strong>: Participated as joint book-runner in the offering.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news fits under &#039;Corporate Developments&#039; as it marks a significant financial maneuver for Elmet Group, enhancing its capital structure while supporting growth initiatives in crucial markets.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Net proceeds aimed at reducing debt could improve Elmet&#039;s financial health.</li><li>Increased liquidity may enhance growth prospects in precision-engineered segments.</li><li>Elmet&#039;s IPO timing suggests favorable market conditions for investor confidence.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>IPO raised $125.5 million after underwriting discounts.</li><li>9.9 million shares were sold at $14 per share.</li><li>Elmet operates in aerospace, defense, and energy sectors.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Positively impacted by the IPO, ELMT is likely to see price appreciation short-term.</p>
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="left">PORTLAND, Maine, April  24, 2026  (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=_d6pL-hKT781doYQ33DT8HBzwmzu2PZ7N7evi-t7aF8sBVk7ziBBHqZecJbKGXdn3a7g4mJfvHl48bkooUNsWDFKQ3bpi6CP41v38UNn2QM=" rel="nofollow" target="_blank"><strong><u>The Elmet Group Co</u></strong></a><strong>. (&#34;Elmet&#34; or the &#34;Company&#34;)</strong>, a U.S.-based provider of precision-engineered components and advanced high-energy systems, today announced the closing of its upsized initial public offering of an aggregate of approximately 9.9 million shares of its common stock, including the full exercise by the underwriters of their overallotment option to purchase approximately 1.3 million shares, at a public offering price of $14.00 per share. The aggregate net proceeds to Elmet from the offering were $125.5 million after deducting underwriting discounts and commissions and other offering expenses payable by Elmet. The shares began trading on the Nasdaq Capital Market on April 23, 2026 under the ticker symbol "ELMT."</p>  <p>Elmet currently intends to use the aggregate net proceeds it received from this offering, together with its existing cash and restricted cash to repay debt, with the remainder to be put towards working capital, growth capital, and general corporate purposes.</p>  <p>Cantor acted as lead book-running manager for the offering. Needham &amp; Company and Canaccord Genuity acted as joint book-running managers. Roth Capital Partners acted as co-manager.</p>  <p>Ellenoff Grossman &amp; Schole LLP acted as legal counsel to the Company. Thompson Coburn LLP acted as legal counsel to the underwriters.</p>  <p>A registration statement (the "Registration Statement") relating to these securities was declared effective by the Securities and Exchange Commission on April 22, 2026. The offering was made only by means of a prospectus. A copy of the final prospectus may be obtained from: Cantor Fitzgerald &amp; Co., Attention: Capital Markets, 110 East 59<sup>th</sup> Street, 6<sup>th</sup> Floor, New York, New York 10022 or by email to <a href="https://www.globenewswire.com/Tracker?data=KSydxcAwmE5EaZp30Ramo_WJw3f71XvfqqaCf5WRnsz7lTcuhwndz5ioNXksp0yWHtpUGlZzCzz4sOu928pDKE-5P8ETU5ZpUL7vVywOV5g=" rel="nofollow" target="_blank">prospectus@cantor.com</a>. Copies may also be obtained by visiting EDGAR on the SEC's website at <a href="http://www.sec.gov" title="www.sec.gov">www.sec.gov</a>.</p>  <p>This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.</p>  <p><strong>About The Elmet Group</strong><br></br>The Elmet Group is a U.S.-based provider of precision-engineered components and advanced high-energy systems for the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries. The Company operates through two segments, Critical Materials Components (CMC) and Engineered Microwave Products (EMP), leveraging materials science and precision engineering expertise to deliver high-performance solutions. The Elmet Group is dedicated to strengthening domestic manufacturing capabilities to support the U.S. and its allies' needs in both critical materials and advanced high-power microwave systems.</p>  <p><strong><em>Forward Looking Statements</em></strong><br></br><em>The information in this press release includes forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or our future financial or operating performance and include statements regarding Elmet's intended use of proceeds from the initial public offering and the exercise of the underwriters' option to purchase additional shares of common stock from Elmet. When used in this press release, words such as "expect," "project," "estimate," "believe," "anticipate," "intend," "plan," "seek," "forecast," "target," "predict," "may," "should," "would," "could," and "will," the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Registration Statement. Elmet undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.</em></p>  <p><strong>Company Contact</strong><br></br>Chris Chandler<br></br><a href="https://www.globenewswire.com/Tracker?data=WzeINL1bmvDNfr0vWnsUSkRZp4shu5d0ND_SK230x97LZ_yQRO13tOQTYRSOgIMd0OjVgvjh8b1lAYx_ix1uewIXn_TwGvXZLceI1rq0lJ3L-I_MuwhVcMaT-QjoCH6-" rel="nofollow" target="_blank"><u>contact@theelmetgroup.com</u></a></p>  <p><strong>Investor Contact</strong><br></br>Tom Colton and Greg Bradbury<br></br>Gateway Group, Inc.<br></br><a href="https://www.globenewswire.com/Tracker?data=VyxsRZZ0FHV26_8mgSqueudPFYMazAlUSh9P96L17Uwj_dfVtxUcAmfHCP93tO_lVBQbh9Yw0-4MP3hDscI56DAHwMZZxWGwSb1c9ANfEQY=" rel="nofollow" target="_blank"><u>ELMT@gateway-grp.com</u></a><br></br>949-574-3860</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTY5NjU3NiM3NTU0NTU5IzIzMTA0Mjc="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/ZTk2YzEzMTEtOGQ4OC00OTg4LWEzMDYtMTQ4ZGEzMzI2NWRiLTEzMjE5NzctMjAyNi0wNC0yNC1lbg==/tiny/The-Elmet-Group.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/388f5e0b-38dc-47b9-ba7c-d5a0a55a7cc6"><img src="https://ml.globenewswire.com/media/388f5e0b-38dc-47b9-ba7c-d5a0a55a7cc6/small/elmet-jpg.jpg" border="0" width="150" height="58" alt="Primary Logo"></img></a></p>

Elmet Group has closed its IPO, raising $125.5 million for debt repayment and growth capital. This proactive step positions Elmet for potential advancements in its precision-engineered components business, enhancing its financial stability.

The Elmet Group Co. Announces Closing of Upsized Initial Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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