Nova Minerals Restricted (Nova or the Firm) (ASX: NVA, NASDAQ: NVA, NVAWW OTC: NVAAF, FSE: QM3) is happy to announce the closing of its underwritten US NASDAQ public providing in the present day of 475,000 items, with every unit consisting of 1 American Depositary Share representing bizarre 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 entire 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 an extra 47,500 ADSs and/or an extra 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 bizarre totally 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 beneath the symbols “NVA” and “NVAWW”, respectively.
Nova may also subject choices (warrants) to the underwriters of the provide, as accredited 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 area packages, feasibility research, and normal working capital.ThinkEquity is performing as sole book-running supervisor for the providing.
A registration assertion on Type F-1 (File No. 333-278695) referring to the general public providing was filed with the Securities and Alternate Fee (“SEC”) and have become efficient on July 23, 2024. This providing is being made solely by the use of a prospectus. Copies of the ultimate prospectus could also be obtained from ThinkEquity, 17 State Road, forty first Ground, New York, New York 10004.
This press launch shall not represent a proposal to promote or a solicitation of a proposal to purchase, nor shall there be any sale of those securities in any state or jurisdiction by which such a proposal, solicitation or sale could be illegal previous to registration or qualification beneath the securities legal guidelines of any such state or jurisdiction.
Nova CEO, Mr Christopher Gerteisen commented: “This marks a significant milestone for the corporate and highlights the standard of our group who made it occur by means of numerous hours of dedication and arduous work. A US itemizing has been our aim 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 generally is a catalyst to create additional shareholder worth by means of elevated publicity and liquidity accessible within the US market. The corporate is making ready a focused drill program to begin shortly and continues with the crucial technical research required for the completion of a strong PFS as we progress alongside the trail to manufacturing.”
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