Amaero Inc. IPO DOSSIER · NASDAQ: AMRO

Amaero Inc. (AMRO) IPO

Amaero Inc. is a commercial-stage Tennessee maker of metal powders and PM-HIP parts; revenue was $7.4 million in the first half of 2026, with continuing losses. It sold 4,705,883 shares on Nasdaq at a fixed $4.25.

WHERE THIS DEAL STANDS

The first trade has crossed. Amaero Inc. is in its first month of trading.

RADAR Reported, nothing filed READY Terms on file, awaiting pricing PING Priced, not yet trading STRIKE The first trade crosses ORBIT Trading, through lock-up

AT A GLANCE

Offer range $4.25 Priced Shares offered 4,705,883 Deal size ~$20.0M At the offer price First trade Oct 15 On Nasdaq

How this Dossier is built

A Bellipo Dossier is built from the filing itself. We aggregate the company's S-1 and its amendments, extract the disclosures that move a deal, and compile them into a single structured brief — the financial statements normalized into comparable lines, the use-of-proceeds split between primary and secondary, the capitalization and ownership table, the underwriting syndicate, insider selling, the auditor and its prior engagements, and the ranked risk factors. Every figure is traced to the source filing rather than the press release. The result is a desk-grade read of what the company disclosed, not what it announced — in plain English, in about five minutes.

Company Information

In its own words, Amaero is "a leading U.S.-based producer of high-value refractory and titanium alloy spherical metal powders for additive manufacturing" and "a pioneer" in PM-HIP manufacturing of large near-net-shape parts (S-1/A Oct 8, 2026, p. 1). Its manufacturing plant and headquarters are at 130 Innovation Drive SW, McDonald, Tennessee (S-1/A Oct 8, 2026, p. cover). Its industry code is SIC 3390 (S-1/A Oct 8, 2026, p. cover).

Industry Industrials Listing AMRO · NASDAQ

As filed

Chairman and Chief Executive Officer Hank J. Holland S-1/A Oct 8, 2026, p. 34 Chief Technology Officer Eric Bono S-1/A Oct 8, 2026, p. 7 Chief Financial Officer Brett Paduch S-1/A Oct 8, 2026, p. 7 Full-time employees (Jun 30, 2026) 53 S-1/A Oct 8, 2026, p. 95 Founded 2013, as Amaero Engineering Pty Ltd (Australia) 424B4 Oct 15, 2026, p. i

The record

Dec 5, 2019 Listed on the ASX under "3DA" (424B4 Oct 15, 2026, p. i). Feb 20, 2026 Amaero Inc. formed in Delaware to move the company's home to the United States (424B4 Oct 15, 2026, p. i). Aug 28, 2026 Form S-1 filed, accession 0001193125-26-372368. Oct 8, 2026 Form S-1/A (Amendment No. 3) filed, accession 0001193125-26-417950. Oct 14, 2026 SEC notice of effectiveness, accession 9999999995-26-003239. Oct 15, 2026 Final prospectus (424B4) filed, accession 0001193125-26-422334.

Form S-1/A, accession 0001193125-26-417950 (filed 2026-10-08). https://www.sec.gov/Archives/edgar/data/2141616/000119312526417950/ck0002141616-20261008.htm · Form 424B4, accession 0001193125-26-422334 (filed 2026-10-15; prospectus dated 2026-10-14). https://www.sec.gov/Archives/edgar/data/2141616/000119312526422334/project_alchemy_-_424b4.htm

The Bellipo Take

The gist · This dossier states what the filings say. It makes no forecast of the price or of trading.

A Tennessee maker of metal powders and pressed metal parts, with growing revenue, continuing losses and a going-concern warning in its own filing.

Bull case
  1. What the filing shows: revenue grew.Revenue was $7.4 million in the six months to June 30, 2026, against $1.2 million a year earlier (S-1/A Oct 8, 2026, p. 65).
  2. What the filing shows: contracts on hand.Backlog was $13.4 million across 18 customers as of September 30, 2026 (S-1/A Oct 8, 2026, p. 5).
  3. What the filing shows: three atomizers running.Three EIGA Premium atomizers are commissioned; a fourth is ordered for June 2027 (S-1/A Oct 8, 2026, p. 84).
Bear case
  1. The filing warns: going concern.The company says substantial doubt about its ability to continue as a going concern will exist even after this offering (S-1/A Oct 8, 2026, p. 22–23).
  2. The filing warns: few customers.Two customers made up 41% and 27% of revenue in the six months to June 30, 2026 (S-1/A Oct 8, 2026, p. 28).
  3. The filing warns: a control weakness.It reports a material weakness in internal control over financial reporting (S-1/A Oct 8, 2026, p. 39).
Bottom line

Everything here is read from Amaero's S-1/A of Oct 8, 2026 and its 424B4 of Oct 15, 2026.

Form S-1/A, accession 0001193125-26-417950 (filed 2026-10-08). https://www.sec.gov/Archives/edgar/data/2141616/000119312526417950/ck0002141616-20261008.htm · Form 424B4, accession 0001193125-26-422334 (filed 2026-10-15; prospectus dated 2026-10-14). https://www.sec.gov/Archives/edgar/data/2141616/000119312526422334/project_alchemy_-_424b4.htm

The remaining sections of this dossier are sent by email, free: confirm your email on the page to read them.

Related IPO dossiers

ITG SUBDUED ITG, Inc. Telecom & Utility Infrastructure Services · trading · ORBITIAM ACTIVE Iambic Therapeutics Biotech · first trade · STRIKEOURA ACTIVE Oura Inc. Consumer wearables · terms set · READYBLSM ACTIVE BlossomHill Therapeutics, Inc. Clinical-Stage Biotechnology · trading · ORBIT