Cantor Fitzgerald Behind Velo3D Raise and Elmet IPO

Cantor Fitzgerald is showing up across two advanced manufacturing deals at the same time, acting as sole book-runner on a $50 million stock raise by Velo3D and also involved in the initial public offering (IPO) of Elmet Group. The two moves point to growing activity around financing companies tied to aerospace, defense, and high-performance manufacturing, where scaling technology into real production still depends on capital and strong financial backing.

Velo3D Raises $50M as It Pushes Toward Production

Velo3D raised $50 million by selling new shares, pricing 3.57 million shares at $14 each, with Cantor Fitzgerald acting as the sole book-running manager for the offering. The company expects the deal to close at the end of April and plans to use the proceeds for working capital and general corporate purposes. The move brings in fresh cash, giving the company more financial flexibility, but it also reduces the value of existing shares.

For a company that has been dealing with losses and low margins, the raise gives Velo3D more breathing room as it works toward steady production demand. Moves like this are common in the manufacturing space, especially for companies trying to move from development into full production. Getting there takes time, money, and real customer demand.

At the same time, the company is making a bigger move into motorsports through a new partnership with Andretti Performance tied to the 2026 IMSA season, hosting customer events, and boosting its leadership team. The goal is to show that its metal 3D printing technology can perform in demanding environments. Motorsports is often used as a proving ground, where parts need to be lightweight, strong, and produced quickly.

In fact, Velo3D is now showing customers how its technology performs in real-world applications. The company announced on social media that it is hosting an open house today at its Fremont, California, facility, featuring driver Jarett Andretti and the No. 43 car. Velo3D invited visitors to see how it designs and produces “mission-critical metal parts for aerospace, defense, and energy.” Events like this are about turning interest into real business by showing the technology in action.

On the leadership side, Velo3D also shared that Jim Suva joined as Chief Financial Officer earlier this month. Suva brings a long track record in public markets, with experience at Goldman Sachs and KPMG, more than two decades as a Managing Director at Citi, and, most recently, serving as SVP and Treasurer at Cricut. 

Elmet IPO Puts the Materials Side of 3D Printing in Focus

At the same time, Cantor Fitzgerald is also involved in the IPO of Elmet Group, a company focused on high-performance metals used in demanding applications like aerospace, defense, and high-power systems. The company raised about $125.5 million in net proceeds after pricing roughly 9.9 million shares at $14 each, including the full exercise of the underwriters’ option. The shares began trading on the Nasdaq Capital Market under the ticker “ELMT” on April 23. Elmet Group is going public, but its core business, Elmet Technologies, produces the materials behind those applications, including additive manufacturing.

While not a pure play 3D printing business, Elmet plays an important role in the additive manufacturing ecosystem. Through its materials business, it produces high-performance metal powders and components, including refractory metals like tungsten, molybdenum, niobium, and tantalum. These materials are used in advanced 3D printing processes for applications where strength, heat resistance, and precision are key, like aerospace, defense, medical, and energy. Elmet Technologies is the only U.S.-owned, fully integrated tungsten and molybdenum manufacturer, and the largest U.S.-owned producer of those materials, with nearly 400 employees.

Its materials and components are already used across high-performance industries. NASA has used Elmet materials in its Artemis missions, where components must withstand extreme space conditions. The company also supplies into aerospace and defense supply chains tied to firms like Lockheed Martin, Raytheon, and Teledyne Technologies, as well as national labs including Fermi National Accelerator Laboratory and Los Alamos National Laboratory. In medical imaging, tungsten powders are used in CT systems. The company also works with partners like TANIOBIS to develop specialized powders for AM, strengthening supply chains for critical applications.

The IPO points to a continued demand for these types of advanced materials, particularly in sectors where performance is more important than cost. 

Cantor Fitzgerald has been increasingly active in advanced manufacturing and industrial technology deals. The firm has worked with a range of companies across sectors like aerospace, defense, and digital manufacturing, helping structure capital raises and connect them with investors. Its involvement here points to the continued need for specialized financial partners as companies in the 3D printing sector work to scale into full production.