Trading on the Nasdaq Expected to Commence Today Under the Ticker “ALM”
Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII) (ASX: AiiDA) (OTCQX: ALMTF) (Frankfurt: ALI1), a leading global producer of tungsten concentrate, announced today the pricing of its underwritten public offering in the United States of 20,000,000 common shares (“Common Shares”) at a public offering price of US$4.50 per Common Share, for total gross proceeds of US$90 million(the “Offering”). In connection with the Offering, the Company has granted the Underwriters (as defined below) a 30-day over-allotment option to purchase up to an additional 3,000,000 Common Shares at the public offering price, less the underwriting discount.
Oppenheimer & Co. and Cantor are acting as Joint Bookrunners for the offering, D.A. Davidson & Co. is acting as Lead Manager and Scotiabank as Co-Manager (collectively, the “Underwriters”).
Lewis Black, Chief Executive Officer of Almonty, commented: “We are pleased to announce the pricing of our oversubscribed public offering, which concurrently marks our uplisting to the Nasdaq. Our U.S. listing also reflects our emerging status as America’s tungsten supplier, further supported by our ongoing redomiciling initiatives. The capital from this offering funds the development of our Sangdong tungsten oxide facility, enabling Almonty to continue to rise in prominence as a leading supplier of tungsten for the defense needs of the U.S. and its allies.”
The Offering is expected to close on or about July 15, 2025, subject to the satisfaction of customary closing conditions, including the listing of the Common Shares sold under the Offering on the Toronto Stock Exchange (the “TSX”). The Common Shares are currently, and following the Offering will continue to be, listed on the TSX under the symbol “All” and the Australian Securities Exchange (the “ASX”) under the symbol “AiiDA”, and are, and will continue to be, traded on the Frankfurt Stock Exchange.
The Common Shares are expected to commence trading on the Nasdaq Capital Market (the “Nasdaq”) on July 14, 2025 under the ticker symbol “ALM”. Pending the commencement of trading of the Common Shares on the Nasdaq, trading of the Common Shares on the OTCQX was suspended at the close of markets on July 11, 2025.
The Company intends to use the net proceeds of the Offering primarily to fund the development of its tungsten oxide facility and for working capital and other general corporate purposes. [...]
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