Innovaero completes fully subscribed A$40M IPO
Innovaero completed a fully subscribed initial public offering that raised A$40 million before costs through 80 million shares priced at A$0.50 each.
Evidence notes
- Proceeds will fund a new headquarters, R&D and manufacturing facility in Jandakot and continued development of the autonomous OWL aerial-system family.
- The offering implies an indicative A$158.3 million market capitalization when the company lists.
- ASX trading is scheduled to begin September 22 under ticker INN.
Company overview
Innovaero is an Australian aerospace and defence manufacturer building autonomous aerial systems and one-way effectors. Its OWL family spans electric long-range loitering munitions and turbojet strike or interception systems, supported by in-house design, certification, production and maintenance capabilities.