IperionX (ASX:IPX) is conducting a placement to raise $70 million as part of the group’s strategy to accelerate the expansion of its titanium production in the US.
Under the placement, 14 million shares will be issued at $5 per share, representing a 6% discount to the last closing price of $5.30 per share. Petra Capital will act as the lead manager and bookrunner to the placement.
IperionX, which has a market capitalisation of $1.69 billion, says the capital raise will position the company to meet demand for a reliable source of titanium metal – particularly for defence, aerospace, and advanced manufacturing applications.
The company says ordering long-lead capital items now will shorten the construction schedule for planned scale-up in titanium production capacity and underpins ongoing engagement with the US Department of Defense (DoD).
IperionX is working alongside the DoD to finalise an equipment profile optimised for titanium products for defense applications. Completion of this work is anticipated to unlock an additional US$42.1 million in previously awarded DoD funding under the Industrial Base Analysis and Sustainment Program.
CEO Anastasios Arima says the placement allows the company to fast-track orders for the next phase of growth.
“Titanium is critical for US defence and advanced manufacturing, and IperionX is proud to be reshorting domestic capability to produce US-made titanium components at scale, reducing reliance on imports,” Arima says.
According to the US Geological Survey, US imports of titanium mineral concentrates totalled 245,000 metric tons in Q1 2025.
Titanium is a versatile metal that has a wide range of applications. The mineral is predominantly used in the aerospace, medical, chemical, and consumer products industries.
Write to Aaliyah Rogan at Mining.com.au
Images: IperionX
