ThinkEquity is acting as sole book-running manager for Nova Minerals’ (NASDAQ:NVA) US$11.1 million ($16.95 million) underwritten public offering of American Depository Shares (ADS).
Nova Minerals on 7 July filed a registration statement on Form F-1 with the US Securities and Exchange Commission (SEC) relating to a secondary public offering of its ADS, each of which represent 60 of the company’s ordinary shares of no par value.
The company, which is also listed on the Australian Securities Exchange under the ticker code (ASX:NVA), today (15 July) announced the pricing of the offering, which has an ADS-to-ordinary-share ratio of 1:60, at US$9.25 per ADS.
In addition, Nova has granted the underwriters a 45-day option to purchase up to an additional 120,000 ADS to cover over-allotments, if any.
The offering is expected to close on 16 July 2025.
The company intends to use the proceeds for resource and exploration field programs, including additional drilling and exploration, feasibility studies, and general working capital.
Subject to shareholder approval, the company will issue warrants to underwriters ThinkEquity to subscribe for 60,000 ADS.
Upon completion of the offering, Nova’s ordinary shares will continue to be listed on the ASX and quoted on the OTC Pink market under the symbol ‘NVAAF’ and the Frankfurt Stock Exchange under the symbol ‘QM3’ and the company’s ADS and public warrants will continue to be listed on the Nasdaq Capital Market under the symbols ‘NVA’ and ‘NVAWW’, respectively.
Write to Adam Orlando at Mining.com.au
Images: Nova
