Nova Pronounces Remaining of US$3.3m NASDAQ IPO
Nova Minerals Restricted (Nova or the Corporate) (ASX: NVA, NASDAQ: NVA, NVAWW OTC: NVAAF, FSE: QM3) is happy to announce the ultimate of its underwritten US NASDAQ public providing nowadays of 475,000 gadgets, with each and every unit consisting of 1 American Depositary Percentage representing usual stocks (“ADS”) and one warrant, with an ADS-to-ordinary-share ratio of one to 60, at a value to the general public of US$6.92 consistent with unit, for gross proceeds of roughly US$3.3m (AUD$4.9m) prior to deducting underwriting reductions and providing bills.
Each and every entire warrant is exercisable for one ADS at an workout worth of US$7.266 consistent with ADS, and will probably be instantly exercisable upon issuance for a duration of 5 years following the date of issuance. As well as, Nova has granted the underwriters an possibility to buy as much as an extra 47,500 ADSs and/or an extra 47,500 warrants to hide over-allotments, if any till August 29, 2024.
The providing additionally incorporated the acquisition by way of the underwriters of 47,500 warrants in reference to the partial workout by way of the underwriters in their over-allotment possibility.
The Corporate has issued a complete of 28,500,000 usual absolutely paid stocks to the depositary agent which is able to underlie the ADS.
The ADSs and warrants started buying and selling at the Nasdaq Capital Marketplace on July 24, 2024 below the symbols “NVA” and “NVAWW”, respectively.
Nova may even factor choices (warrants) to the underwriters of the be offering, as authorized by way of shareholders on the normal assembly hung on 31 Would possibly 2024.
The Corporate intends to make use of the proceeds for useful resource and exploration box systems, feasibility research, and normal operating capital.ThinkEquity is performing as sole book-running supervisor for the providing.
A registration remark on Shape F-1 (Record No. 333-278695) with regards to the general public providing was once filed with the Securities and Alternate Fee (“SEC”) and was efficient on July 23, 2024. This providing is being made handiest by way of a prospectus. Copies of the general prospectus could also be acquired from ThinkEquity, 17 State Side road, forty first Ground, New York, New York 10004.
This press unlock shall no longer represent an be offering to promote or a solicitation of an be offering to shop for, nor shall there be any sale of those securities in any state or jurisdiction during which such an be offering, solicitation or sale could be illegal previous to registration or qualification below the securities regulations of the sort of state or jurisdiction.
Nova CEO, Mr Christopher Gerteisen commented: “This marks a significant milestone for the corporate and highlights the standard of our crew who made it occur thru numerous hours of willpower and difficult paintings. A US checklist has been our function for a very long time because the logical subsequent step with our flagship Estelle Gold Mission being a North American asset and an expanding US investor base. Now it’s a truth, and we imagine it is a catalyst to create additional shareholder price thru higher publicity and liquidity to be had in america marketplace. The corporate is getting ready a centered drill program to begin in a while and continues with the essential technical research required for the crowning glory of a strong PFS as we growth alongside the trail to manufacturing.”
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