Nova Minerals Limited (Nova or the Company) (ASX: NVA, NASDAQ: NVA, NVAWW OTC: NVAAF, FSE: QM3) is happy to announce the closing of its underwritten US NASDAQ public providing right now of 475,000 items, with every unit consisting of 1 American Depositary Share representing peculiar shares (“ADS”) and one warrant, with an ADS-to-ordinary-share ratio of 1 to 60, at a value to the general public of US$6.92 per unit, for gross proceeds of roughly US$3.3m (AUD$4.9m) earlier than deducting underwriting reductions and providing bills.
Every complete warrant is exercisable for one ADS at an train value of US$7.266 per ADS, and will probably be instantly exercisable upon issuance for a interval of 5 years following the date of issuance. As well as, Nova has granted the underwriters an choice to buy as much as a further 47,500 ADSs and/or a further 47,500 warrants to cowl over-allotments, if any till August 29, 2024.
The providing additionally included the acquisition by the underwriters of 47,500 warrants in reference to the partial train by the underwriters of their over-allotment possibility.
The Firm has issued a complete of 28,500,000 peculiar absolutely paid shares to the depositary agent which is able to underlie the ADS.
The ADSs and warrants started buying and selling on the Nasdaq Capital Market on July 24, 2024 underneath the symbols “NVA” and “NVAWW”, respectively.
Nova may also situation choices (warrants) to the underwriters of the provide, as authorized by shareholders on the normal assembly held on 31 Might 2024.
The Firm intends to make use of the proceeds for useful resource and exploration subject packages, feasibility research, and normal working capital.ThinkEquity is appearing as sole book-running supervisor for the providing.
A registration assertion on Kind F-1 (File No. 333-278695) regarding the general public providing was filed with the Securities and Change Fee (“SEC”) and have become efficient on July 23, 2024. This providing is being made solely via a prospectus. Copies of the ultimate prospectus could also be obtained from ThinkEquity, 17 State Avenue, forty first Ground, New York, New York 10004.
This press launch shall not represent a suggestion to promote or a solicitation of a suggestion to purchase, nor shall there be any sale of those securities in any state or jurisdiction by which such a suggestion, solicitation or sale can be illegal previous to registration or qualification underneath the securities legal guidelines of any such state or jurisdiction.
Nova CEO, Mr Christopher Gerteisen commented: “This marks a serious milestone for the corporate and highlights the standard of our staff who made it occur by numerous hours of dedication and arduous work. A US itemizing has been our objective for a very long time because the logical subsequent step with our flagship Estelle Gold Venture being a North American asset and an growing US investor base. Now it’s a actuality, and we imagine this is usually a catalyst to create additional shareholder worth by elevated publicity and liquidity out there within the US market. The corporate is making ready a focused drill program to start shortly and continues with the important technical research required for the completion of a strong PFS as we progress alongside the trail to manufacturing.”
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