Nova Minerals Limited Announces Pricing of Public Offering and Nasdaq Listing
Nova Minerals (Nasdaq: NVA, NVAWW; ASX: NVA) has announced the pricing of its public offering and Nasdaq listing. The company is offering 475,000 units at $6.92 per unit, with each unit comprising one American Depositary Share (ADS) and one warrant. The offering is expected to raise approximately $3,287,000 in gross proceeds. Each warrant is exercisable for one ADS at $7.266 for five years. Nova has granted underwriters an option to purchase up to an additional 47,500 ADSs and/or warrants. Trading on Nasdaq is set to begin on July 24, 2024, under symbols NVA and NVAWW. The offering is expected to close on July 25, 2024. Proceeds will fund resource and exploration programs, feasibility studies, and working capital.
Nova Minerals (Nasdaq: NVA, NVAWW; ASX: NVA) ha annunciato il prezzo della sua offerta pubblica e della quotazione su Nasdaq. L'azienda sta offrendo 475.000 unità a 6,92 dollari per unità, con ogni unità composta da una American Depositary Share (ADS) e un warrant. Si prevede che l'offerta raccolga circa 3.287.000 dollari in proventi lordi. Ogni warrant è esercitabile per un'ADS a 7,266 dollari per cinque anni. Nova ha concesso ai sottoscrittori un'opzione per acquistare fino a ulteriori 47.500 ADS e/o warrant. Le negoziazioni su Nasdaq inizieranno il 24 luglio 2024, sotto i simboli NVA e NVAWW. L'offerta dovrebbe chiudersi il 25 luglio 2024. I proventi finanzieranno programmi per risorse ed esplorazione, studi di fattibilità e capitale circolante.
Nova Minerals (Nasdaq: NVA, NVAWW; ASX: NVA) ha anunciado el precio de su oferta pública y lista de Nasdaq. La compañía está ofreciendo 475,000 unidades a $6.92 por unidad, con cada unidad compuesta por una American Depositary Share (ADS) y un warrant. Se espera que la oferta recaude aproximadamente $3,287,000 en ingresos brutos. Cada warrant es ejercitable por una ADS a $7.266 por cinco años. Nova ha otorgado a los suscriptores una opción para comprar hasta 47,500 ADS adicionales y/o warrants. La negociación en Nasdaq comenzará el 24 de julio de 2024, bajo los símbolos NVA y NVAWW. Se espera que la oferta cierre el 25 de julio de 2024. Los ingresos financiarán programas de recursos y exploración, estudios de viabilidad y capital de trabajo.
노바 미네랄스 (Nasdaq: NVA, NVAWW; ASX: NVA)는 공모 및 나스닥 상장 가격을 발표했습니다. 회사는 475,000 단위를 단위당 6.92달러에 제공하며, 각 단위는 하나의 미국 예탁주식(ADS)과 하나의 보증서(warrant)로 구성됩니다. 이번 공모를 통해 약 3,287,000 달러의 총 수익이 예상됩니다. 각 보증서는 5년 동안 7.266달러에 하나의 ADS로 행사할 수 있습니다. 노바는 주관사에게 최대 47,500개의 ADS 및/또는 보증서를 추가로 구매할 수 있는 옵션을 부여했습니다. 나스닥에서의 거래는 2024년 7월 24일에 NVA 및 NVAWW 심볼로 시작될 예정입니다. 이번 공모는 2024년 7월 25일에 마감될 것으로 예상됩니다. 수익금은 자원 및 탐사 프로그램, 타당성 연구, 운영 자금을 지원하는 데 사용될 것입니다.
Nova Minerals (Nasdaq: NVA, NVAWW; ASX: NVA) a annoncé le prix de son offre publique et de sa cotation sur Nasdaq. La société propose 475,000 unités à 6,92 $ par unité, chaque unité comprenant une American Depositary Share (ADS) et un warrant. Il est prévu que l'offre génère environ 3,287,000 $ de recettes brutes. Chaque warrant est exerçable pour une ADS à 7,266 $ pendant cinq ans. Nova a accordé aux souscripteurs la possibilité d'acheter jusqu'à 47,500 ADS et/ou warrants supplémentaires. Les échanges sur Nasdaq commenceront le 24 juillet 2024, sous les symboles NVA et NVAWW. L'offre devrait se clôturer le 25 juillet 2024. Les recettes financeront des programmes de ressources et d'exploration, des études de faisabilité et du fonds de roulement.
Nova Minerals (Nasdaq: NVA, NVAWW; ASX: NVA) hat die Preisgestaltung ihres öffentlichen Angebots und der Nasdaq-Notierung bekannt gegeben. Das Unternehmen bietet 475.000 Einheiten zu 6,92 US-Dollar pro Einheit an, wobei jede Einheit aus einer American Depositary Share (ADS) und einem Warrant besteht. Es wird erwartet, dass das Angebot ungefähr 3.287.000 US-Dollar an Bruttoeinnahmen erzielt. Jeder Warrant kann über fünf Jahre für eine ADS zu 7,266 US-Dollar ausgeübt werden. Nova hat den Underwritern eine Option eingeräumt, bis zu 47.500 zusätzliche ADS und/oder Warrants zu kaufen. Der Handel an der Nasdaq soll am 24. Juli 2024 unter den Symbolen NVA und NVAWW beginnen. Das Angebot wird voraussichtlich am 25. Juli 2024 schließen. Die Erlöse werden zur Finanzierung von Ressourcen- und Erkundungsprogrammen, Machbarkeitsstudien und Betriebskapital verwendet.
- Successful pricing of public offering, raising approximately $3,287,000 in gross proceeds
- Listing on Nasdaq Capital Market, potentially increasing visibility and liquidity
- Proceeds to be used for resource and exploration programs, feasibility studies, and working capital
- Potential dilution of existing shareholders due to the issuance of new units
- Additional dilution possible if underwriters exercise over-allotment option
- Warrants may lead to further dilution if exercised in the future
The public offering by Nova Minerals Limited represents a strategic move to raise capital, important for advancing their Estelle Gold Project in Alaska. The offering price of
From an investor perspective, the Nasdaq listing under symbols ‘NVA’ and ‘NVAWW’ will likely enhance liquidity and visibility. This aligns with the industry trend where exploration companies seek listings on major U.S. exchanges to attract a broader investor base. The underwriters being granted an overallotment option further indicates confidence in the offering’s success. However, investors should remain cautious of the inherent risks associated with early-stage exploration firms, including resource uncertainty and capital expenditure demands.
The Nasdaq listing and public offering of Nova Minerals Limited can be seen as a significant milestone, reflecting positively on the company's market positioning and future potential. The ADS-to-ordinary-share ratio of 1 to 60 illustrates an effort to make the stock more accessible to U.S. investors, who often prefer dealing in ADS due to simpler taxation and regulatory environments. This move is likely to raise Nova's profile within the industry and could potentially lead to increased analyst coverage and investor interest.
Additionally, the use of proceeds for exploration and feasibility studies is a positive indicator, suggesting a focus on long-term value creation. The market's reception to the offering will be crucial; a successful close can serve as a validation of investor confidence. However, market conditions remain volatile and the impact on stock price post-offering needs monitoring. Investors should also be aware of the potential dilution effect as more shares and warrants are exercised.
While this announcement primarily focuses on financial aspects, it's noteworthy to consider the technological implications. The capital raised will likely fund advanced exploration technologies and feasibility studies, which are critical in de-risking the Estelle Gold Project. Technological advancements in geological surveying, drilling and data analytics can significantly improve the accuracy of resource estimations and operational efficiencies.
Investors should pay attention to how Nova Minerals plans to deploy these technologies, as successful implementation could lead to substantial cost savings and faster project timelines. Additionally, the five-year exercisability of the warrants provides a window to evaluate technological advancements and their impacts on the project's progress. This strategic capital infusion could very well align with the implementation of cutting-edge exploration technologies, providing a competitive edge in the resource extraction industry.
Caufield, Australia, July 23, 2024 (GLOBE NEWSWIRE) -- Nova Minerals Limited (“Nova” and the “Company”) (Nasdaq NVA, NVAWW) (ASX: NVA), (OTC: NVAAF)(FSE: QM3)), a gold and critical minerals exploration stage company focused on advancing the Estelle Gold Project in Alaska, U.S.A., today announced the pricing of an underwritten public offering of 475,000 units, with each unit consisting of one American Depositary Share representing ordinary shares (“ADS”) and one warrant, with an ADS-to-ordinary-share ratio of 1 to 60, at a price to the public of
The Company intends to use the proceeds for resource and exploration field programs, feasibility studies, and general working capital.
The ADSs and warrants are expected to begin trading on the Nasdaq Capital Market on July 24, 2024 under the symbols “NVA” and “NVAWW”, respectively. The offering is expected to close on July 25, 2024, subject to satisfaction of customary closing conditions.
ThinkEquity is acting as sole book-running manager for the offering.
A registration statement on Form F-1 (File No. 333-278695) relating to the public offering was filed with the Securities and Exchange Commission (“SEC”) and became effective on July 23, 2024. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Nova Minerals Limited
Nova Minerals Limited is a gold and critical minerals exploration stage company, focused on advancing its flagship Estelle Gold Project, or the Project, located in Alaska, U.S.A. The Estelle Gold Project, which is
Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Nova Minerals Limited’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Nova Minerals Limited undertakes no duty to update such information except as required under applicable law.
For Additional Information Please Contact:
Craig Bentley
Director of Finance & Compliance & Investor Relations
E: craig@novaminerals.com.au
M: +61 414 714 196
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