IperionX Limited has secured A$70 million (approximately USD46 million) in new funding through a placement of 14 million new fully paid ordinary shares at A$5.00 per share, aimed at accelerating the company’s US titanium production expansion.
The company said the capital raise will support the ordering of long-lead equipment needed to scale up domestic titanium manufacturing capacity.
The initiative comes as the US looks to strengthen its industrial base for critical materials used in defense, aerospace, and advanced manufacturing sectors.
“We are delighted to have strong support from shareholders for the Placement, which allows us to fast-track orders for long lead time equipment for the next significant phase of our growth,” said IperionX CEO Anastasios Arima.
“Titanium is critical for U.S. defense and advanced manufacturing, and IperionX is proud to be reshoring domestic capability to produce U.S.-made titanium components at scale, reducing reliance on imports.”
The company said the raised capital will also support its ongoing collaboration with the US Department of Defense (DoD), with efforts underway to finalize an equipment profile tailored to titanium products used in defense applications.
IperionX noted that successful completion of this phase is expected to unlock an additional USD 42.1 million in previously awarded DoD funding through the Industrial Base Analysis and Sustainment (IBAS) program.
Non-executive and executive directors of IperionX have subscribed for 433,230 of the new shares, amounting to approximately A$2.2 million (US$1.4 million), subject to shareholder approval.
The share issue is priced at a 6% discount to the last closing price of A$5.30 and a 2% discount to the five-day volume-weighted average price.
The Placement will occur in two tranches: 13,566,770 shares are scheduled for issuance on or about July 29, 2025, under ASX Listing Rule 7.1, while the remaining shares subscribed by directors will be issued following shareholder approval at a forthcoming General Meeting.
Petra Capital Pty Limited acted as Lead Manager and Bookrunner for the Placement.
