Norsk Titanium lists on Euronext Growth after $38 million capital raise
Norsk Titanium AS (Norsk Titanium), a global leader in the additive manufacturing of aerospace-grade titanium components, has satisfied the conditions for listing on the Euronext Growth Oslo. Norsk Titanium’s first day of trading on the exchange was May 18th under the ticker code NTI.
The listing follows a successful share issue through a private placement that raised approximately $38 million. Leading shareholders, represented on the Board of Directors, participated in the private placement with $15 million, and the Norwegian family-owned investment company Ferd AS participated with $10 million. Norsk Titanium intends to use the proceeds from the private placement to fund planned growth initiatives.
“Today marks an important milestone for Norsk Titanium,” said Michael Canario, Norsk Titanium’s CEO. “The funding enabled through the Euronext Growth listing will support our ongoing development activities with our commercial customers as well as assist the transition of our technology into new markets such as defense and industrial applications. I would like to thank our advisors and the extraordinary team at Norsk Titanium who made this possible.”
“Norsk Titanium is innovating the future of metal and is uniquely positioned to disrupt the manufacturing of titanium components. We are addressing a large market opportunity, and the listing on Euronext Growth provides access to the capital required to industrialize our technology at scale,” said John Andersen, Chairman of Norsk Titanium and CEO of Scatec Innovation AS, founding shareholder of Norsk Titanium.
Carnegie AS and Skandinaviska Enskilda Banken AB acted as joint global coordinators and joint bookrunners in connection with the private placement and listing. Advokatfirmaet Selmer AS acted as legal advisor to Norsk Titanium.
Founded in 2007 in Norway and has pioneered the use of its patented additive manufacturing process, Rapid Plasma Deposition (RPD). It has been supplying flight-qualified structural components since 2017 and today the company operates manufacturing facilities in the State of New York and Norway. The company is distinguished in the aviation industry by its proprietary RPD technology that transforms titanium wire into complex components suitable for structural and safety-critical applications.
Norsk Titanium is a supplier to commercial aerospace Tier-1 manufacturers and is committed to cost-reducing aerostructures and jet engines for the world’s premier aerospace companies. The RPD process is FAA-approved for manufacturing 3D printed, structural titanium, delivering substantial lead-time and cost savings for aerospace, defense and commercial customers.