Norsk Titanium lists on Euronext Growth after $38 million capital raise
OSLO: Norsk Titanium AS today has its first day of trading on Euronext Growth in Oslo, Norway, a multilateral trading facility operated by the Oslo Stock Exchange, under the ticker code NTI.
The listing follows a successful share capital increase through a private placement that raised approximately USD 38 million. Leading shareholders represented on the Board of Directors participated in the private placement with USD 15 million, and the Norwegian family-owned investment company Ferd AS participated with USD 10 million.
Norsk Titanium intends to use the proceeds from the private placement to fund planned growth initiatives.
“This is a momentous day 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 assisting 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 that made this possible.”
“Norsk Titanium is innovating the future of metal and is uniquely positioned to disrupt the titanium manufacturing industry. 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,” says John Andersen, Chairman of Norsk Titanium AS and CEO of Scatec Innovation AS.
Norsk Titanium AS was founded in 2007 in Norway, and has pioneered the use of its patented additive manufacturing process, Rapid Plasma Deposition (RPD). Through its New York based subsidiary, Norsk Titanium US Inc., it has been supplying flight qualified structural components since 2017.
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 Boeing, Spirit AeroSystems, Leonardo and GKN and is committed to cost-reducing aerostructures and jet engines for the world’s premier aerospace manufacturers. RPD is the world’s first FAA-approved process for manufacturing 3D-printed, structural titanium, delivering substantial lead-time and cost savings for aerospace, defense and commercial customers.
Carnegie AS and Skandinaviska Enskilda Banken AB (publ) 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, while Advokatfirmaet Wiersholm AS acted as legal advisor to the Managers.
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