Braidy Industries Inc., an Ashland, Ky.-based manufacturer of metals for the global transportation and defense industries, has named Thomas Modrowski as president of its subsidiary, Braidy Atlas.

Modrowski, who has served as executive vice president of construction for Braidy Industries since June 2017, will head Braidy Atlas’ operations, overseeing mill completion and integrated aluminum sheet production. He has nearly 40 years of experience in aluminum and steel processing, as well as experience with greenfield construction in the steel industry, and holds a bachelor’s degree in mathematics from Wabash College.

The Braidy Atlas mill will open with capacity of 300,000 tons per annum, producing series 3000, 5000, and 6000 aluminum sheet products. The mill’s capacity is sold out for its first seven years of production. With subsidiary NanoAL’s nanocrystalline metal alloy technology, the mill’s goal is to produce cost-effective, lightweight aluminum sheet that is 20 percent stronger at the same cost of production, reports the company.

 

Edited by DeAnne Toto

Thomas Modrowski has experience in greenfield mill construction, commissioning and metals processing.

Braidy Industries Inc., headquartered in Ashland, Kentucky, has named Thomas Modrowski president of Braidy Atlas, its subsidiary that has plans to build a $1.6 billion aluminum rolling mill in Ashland. It will be the first greenfield aluminum rolling mill built in the U.S. in 35 years, according to the company, and will help meet rapidly growing demand from the automotive and aerospace industries for lightweight exposed sheet aluminum and will assist efforts to rebuild Appalachia.

Braidy Industries is a manufacturer of metals for the global transportation and defense industries.

Modrowski, who has served as executive vice president of construction for Braidy Industries since June 2017, will head Braidy Atlas’ operations, overseeing mill completion and integrated aluminum sheet production, according to a news release from the company announcing his appointment. He brings nearly 40 years of experience in aluminum and steel processing and unique experience with greenfield construction in the steel industry,

Braidy Industries CEO Craig Bouchard says, “Tom’s expertise is ideal to lead Braidy Atlas to rapid automotive qualification with our OEM (original equipment manufacturer) partners. He is a proven contributor to our executive management team and has kept us on track and on budget in our ongoing construction.”

 

Glenn Puit Editor

Braidy Industries has filed more paperwork indicating it intends to list its common stock on the NASDAQ stock market.

The latest filing is called a draft resale shelf registration statement.

A shelf registration is defined by NASDAQ as a procedure that helps clear the way for a public offering of securities.

“With the registration ‘on the shelf,’ the corporation, by simply updating regularly filed annual, quarterly, and related reports to the SEC, can go to the market as conditions become favorable with a minimum of administrative preparation,” according Nasdaq’s website.

In Braidy’s case the company has filed a draft resale shelf registration as an update on its Netcapital fundraising portal. The filing states:

“The resale shelf registration statement relates to the possible resale from time to time by certain of Braidy’s stockholders, including by investors purchasing shares in connection with Braidy’s current crowdfunding offering being conducted on the Netcapital portal,” the document states. “The resale shelf registration statement is also intended to facilitate the listing of Braidy’s common stock on the Nasdaq stock market.”

Notably, the company identifies itself as an “emerging growth company.” This allows the company to “rely on exemptions from certain disclosure requirements that are applicable to other public companies that are not emerging growth companies.”

 

By DeAnne Toto

Company is seeking $500 million from investors for aluminum mill project near Ashland, Kentucky.

Aluminum alloy producer Braidy Industries, headquartered in Ashland, Kentucky, is now offering new stock to investors through March 31. The company is seeking to raise $500 million from investors to secure construction loans for a new aluminum mill it has planned for the Ashland area, according to an article from WDRB.com, Louisville, Kentucky.

This is the second extension the company has made to the stock purchase deadline. Braidy Industries initially established Nov. 19, 2018, as the deadline for its stock sale, which it later extended to Dec. 31, 2018, the local news network reports.

Braidy Atlas LLC is the $1.6 billion aluminum rolling mill planned for Ashland. It will be the first greenfield aluminum rolling mill built in the U.S. in 35 years, according to the company, and will help meet the rapidly growing demand from the automotive and aerospace industries for lightweight exposed sheet aluminum and will assist efforts to rebuild Appalachia.

Braidy Atlas broke ground on the 2.5-million-square-foot, fully integrated aluminum rolling mill in June 2018 and says it expects to complete the project in 2020.

 

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.

 

Who doesn’t like great news?

We certainly do. On this Sunday we celebrate great news from the state of Kentucky regarding the latest unemployment numbers. Combined with a very robust jobs report on Friday, it is time to once again take stock in what continues to be a strong economy both in the state and nation.

Regarding Kentucky, the new county unemployment data showing unemployment rates in the Tri-State region are particularly positive. In fact it is hard to not to pause and check to see if you read them right. In Carter County the preliminary unemployment rate for November 2018 is listed at 6.7 percent. While still not perfect, it is a vast improvement over last summer when, back in July, the number was at 9.7 percent. County residents have certainly seen it higher, but 6.7 percent is very solid progress.

The most recent numbers also show Boyd County’s unemployment rate at 4.7 percent and Greenup closely behind at 5.1 percent. Those are vast improvements from the summer of 2017 when Boyd’s was at 7.2 percent and Greenup’s was at 7.7 percent. These are incredible, arguably historic improvements.

We talked to Tim Gibbs, chief executive officer of the Ashland Alliance, on Friday about the new numbers.

“There’s a positive uptick nationwide,” Gibbs said. “For the first time in 30 or 40 years every county in Kentucky is under 10 percent.”

 

By FRED PACE

ASHLAND – Braidy Industries has posted an update on its Netcapital fundraising website announcing the company has submitted the necessary filings with the U.S. Securities and Exchange Commission to take the first official step to list as a public company.

The company said in an update that it submitted a draft resale shelf registration statement on Form S-1 to the SEC.

The resale shelf registration statement relates to the possible resale from time to time by certain Braidy stockholders, including by investors purchasing shares in connection with Braidy’s current crowdfunding offering being conducted on the Netcapital portal. The resale shelf registration statement is also intended to facilitate the listing of Braidy’s common stock on the NASDAQ Stock Market, the update stated.

Unlike a traditional initial public offering, any resale of Braidy’s shares would not be underwritten by any investment bank, according to the update.

 

by Staff

Kentucky aluminum alloy producer Braidy Industries, Inc. advised investors earlier this week that the Braidy Atlas rolling mill project continues to be on track for full operation in 2021.

To date the firm has invested US$15.7 million on the project in Greenup, with commitments from Kentucky Power to perform US$33 million in site preparation later this year. The power company has already inked an agreement with Braidy to provide electricity to the plant at a fixed rate that is roughly half that paid by commercial customers.

In comments made to local media, Braidy “is raising equity through a traditional private placement targeted at large, sophisticated institutional investors (up to approximately $500 million) side by side with a smaller exempt offering (up to $1.07 million) which allows Main Street investors to invest in a transaction to which they would not otherwise have access.”

The company went on to say that the placement will remain open through the end of March.

The Greenup plant will ultimately consist of a mill operation of significant size, with an approximate floor area of 45 acres. The mill will ultimately produce 300 thousand short tons of milled aluminum each year, with most sales being to automotive, aerospace, and defense customers.

 

By MARK MAYNARD, Kentucky Today

ASHLAND, Ky. (KT) – Braidy Industries Inc. took its first official step toward becoming a public company by submitting a draft resale shelf registration statement to the United States Securities and Exchange Commission on Dec. 31 on a confidential basis.

The statement relates to possible resale from Braidy’s stockholders, including by investors purchasing shares in connection with Braidy’s current crowdfunding offering being conducted on the Netcapital portal.

The resale shelf registration statement is also intended to facilitate the listing of Braidy’s common stock on the Nasdaq Stock Market.

Unlike a traditional initial public offering, any resale of Braidy’s shares would not be underwritten by any investment bank. Braidy would not receive any proceeds from any sale of its shares by the selling stockholders.

The ability of stockholders to commence sales under the resale shelf registration statement would be subject to Braidy publicly filing with the SEC a registration statement on Form S-1 in compliance with the U.S. Securities Act of 1933, as amended and the SEC’s declaring such registration statement effective.

 

By Mark Shaffer | January 3, 2019

Now has two companies to create stronger aluminum

Braidy Industries says its rolling aluminum mill in Greenup, Kentucky is still on track to begin operations in 2021.

The company has spent $15.7 million so far to purchase land in the EastPark industrial park near Greenup, Kentucky, for design and engineering plans for the mill, to get needed permits and other governmental approvals; site preparation work and setting up utilities. Kentucky Power plans to perform $33 million in site preparation work in mid-2019 and has agreed to a favorable, fixed which is 50 percent lower than that paid by competitors.

In its offering update, Braidy Industries said it “is raising equity through a traditional private placement targeted at large, sophisticated institutional investors (up to approximately $500 million) side by side with a smaller exempt offering (up to $1.07 million) which allows Main Street investors to invest in a transaction to which they would not otherwise have access.” Braidy Industries said it would continue crowd funding until March 31.

The Kentucky legislature approved a $15 million investment in Braidy Industries in 2017.

When it completed, 45 acres of the factory will be under roof and the mill will be producing nearly 300,000 tons of milled aluminum for use in the automotive, airline, and defense industries.