Aluminum Insider

by Staff

Kentucky rolled aluminium firm Braidy Industries, Inc. took the first step in becoming a publicly-traded company late last month when it filed a Form S-1 with the United States Securities and Exchange Commission (SEC) on a confidential basis.

Per the firm, the filing, which is a draft resale shelf registration statement, anticipates a sale of common stock, which it intends to trade on the Nasdaq Stock Market. Sales will be carried out on Netcapital, an investment crowdfunding site that targets individual investors rather than large banking and investment firms.

As Braidy qualifies as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (the JOBS Act), it will be exempt from many of the SEC regulations that make public offerings difficult to participate in by both small businesses and private investors.

Though a price for stocks offered at a potential IPO has not been disclosed, the firm’s present buy-in at Netcapital starts at US$108.

Braidy’s expected upcoming public offering dovetails with the firm’s focus upon offering economic opportunities to under-served groups. The firm has partnered with both public and private organizations to breathe life into the flagging coal-country economy in Eastern Kentucky. Seeking to tap in to the area’s highly-skilled workforce, Braidy has had a resounding response to its call for workers – nearly 7,000 eastern Kentuckians have submitted applications for 600 openings at Braidy.