Almonty Files for Nasdaq Listing, Plans U.S. Share Sale to Fund Growth

Strategic U.S. Market Entry

Almonty Industries Inc., a prominent global tungsten concentrate producer, has taken a significant step by filing a registration statement for a public offering in the United States and applying to list its common shares on the Nasdaq Capital Market. This move marks a strategic expansion into the U.S. capital markets, aiming to tap into a broader investor base and enhance liquidity for its shares.

Funding Growth Amid Rising Demand

The funds raised from the offering will primarily support the development of Almonty’s planned tungsten oxide facility, a critical component in the company’s growth strategy. Additionally, proceeds will bolster working capital and general corporate purposes, positioning Almonty to capitalize on what it describes as a robust demand and pricing outlook for tungsten, driven by escalating geopolitical tensions globally.

Maintaining Global Exchange Presence

While the company pursues its Nasdaq listing under the ticker “ALM,” it will continue to maintain its listings on the Toronto Stock Exchange (TSX), Australian Securities Exchange (ASX), and Frankfurt Stock Exchange. However, trading on the OTCQX market will cease once the Nasdaq listing is effective, streamlining its U.S. market presence. The final terms of the offering, including share quantity and pricing, remain subject to market conditions and regulatory approvals.

Industry Context and Outlook

Almonty’s CEO Lewis Black emphasized the company’s ambition to solidify its role as a leading tungsten supplier to the U.S. and allied nations. Given tungsten’s strategic importance in various industrial and defense applications, the company’s timing aligns with a broader trend of securing supply chains amid global uncertainties. Almonty’s existing operations span multiple jurisdictions, including Portugal, South Korea, and Spain, underscoring its diversified asset base.

Next Steps and Market Impact

Joint bookrunners Oppenheimer & Co. and Cantor Fitzgerald & Co., along with lead manager D.A. Davidson & Co. and co-manager Scotiabank, are steering the offering process. Investors and market watchers will be closely monitoring the SEC’s approval of the registration statement and the eventual pricing of the offering, which will set the tone for Almonty’s Nasdaq debut and its capital-raising success.