Nova Minerals Limited (NVA: ASX, NVA: NASDAQ), a gold and critical minerals exploration stage company focused on advancing the Estelle Gold and Critical Minerals Project in Alaska, U.S.A., has announced the closing of its underwritten public offering on the NASDAQ. The offering consisted of 1,200,000 American Depository Shares (ADS) at a price of US$9.25 per ADS, with each ADS representing 60 ordinary shares. The gross proceeds from the offering totalled US$11.1 million, before deducting underwriting discounts and other offering expenses.
The company intends to allocate the net proceeds from the offering to fund ongoing resource and exploration field programs. These programs will include additional drilling and exploration activities, as well as feasibility studies related to the Estelle Gold and Critical Minerals Project. A portion of the funds will also be used for general working capital purposes.
The shares issued in connection with the offering were executed under the company’s available placement capacity, as defined by ASX Listing Rules 7.1 and 7.1A. Specifically, 39,700,258 new shares will be issued under LR7.1 placement capacity and 32,299,742 new shares will be issued under the LR7.1A placement capacity. An updated Appendix 3B with further details was released to the ASX simultaneously with the announcement.
ThinkEquity acted as the sole book-running manager for the offering. Subject to shareholder approval, warrants to subscribe for 60,000 ADS (3,600,000 ordinary shares) will be issued to the underwriters, increasing to 66,000 ADS (3,960,000 ordinary shares) if the overallotment is exercised in full. The company had previously filed a registration statement on Form F-1 with the SEC, which became effective on July 14, 2025.
