IperionX Raises $50 Million to Expand U.S. Titanium Production

IperionX has raised about $50 million through a public offering to speed up the commercial rollout of its U.S. titanium manufacturing business. The company sold 2.275 million shares at $21.98 each. It plans to use the funding to expand production in Virginia, continue developing its titanium project in Tennessee, and support research into its low-carbon titanium technologies.

Cantor Fitzgerald served as the lead manager for the offering, with Roth Capital Partners and B. Riley Securities acting as co-managers. The firm has recently been involved in several advanced manufacturing financings, including Velo3D’s $50 million public offering earlier this year and Elmet Group’s initial public offering.

Rather than using the proceeds for acquisitions or debt repayment, IperionX said it will inv