by Deborah Balshem

  • Mill capacity sold out for seven years
  • Likely to seek acquisitions once public

Braidy Industries, an Ashland, Kentucky-based manufacturer of ecologically-friendly aluminum alloys, is aiming for a direct listing on the NASDAQ by mid-2019, according to CEO Craig Bouchard.

The company, which is constructing a USD 1.6bn aluminum rolling mill in Ashland, Kentucky that is projected to open in early 2021, plans to seek USD 1.7bn to cover capital costs, first raising USD 500m in a private pre-IPO round, then USD 1.2bn in debt after going public, he said. The private Series C round is underway via a Regulation D private placement that Braidy hopes to complete prior to a public listing, Bouchard said. It will then seek USD 1.2bn in debt via the Department of Energy’s ATVM Loan Program and the German government’s Export Credit Agency (ECA) Program, he added.