Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, OTC:NVAAF) has confirmed the pricing of its NASDAQ offering to raise gross proceeds of approximately US$11.1 million. The funds are expected to support ongoing exploration and development activities at its flagship Estelle Gold and Critical Minerals Project in Alaska.
The offering strengthens Nova’s financial capacity as it continues to advance the Estelle Project, which hosts multiple gold and antimony prospects within a 35 kilometre mineralised corridor. Proceeds will be directed towards resource expansion, feasibility studies, and general corporate purposes.
Estelle is located in the Matanuska-Susitna Borough of Alaska, covering 514 square kilometres of state mining claims.
The project hosts more than 20 identified prospects, including the advanced Korbel and RPM deposits, and sits within a 35 kilometre mineralised corridor. Nova’s focus remains on rapidly expanding resources and progressing the project through feasibility toward production.
Offering details
Nova has priced an underwritten public offering of 1,200,000 American Depository Shares (ADS) at US$9.25 per ADS, raising gross proceeds of approximately US$11.1 million.
Each ADS represents 60 ordinary shares. The offer is expected to settle on July 16, 2025.
The 72,000,000 ordinary shares represented by the ADS (equivalent to approximately A$16.91 million) will be issued as follows:
- 47,824,590 shares under Listing Rule 7.1
- 24,175,410 shares under Listing Rule 7.1A
An updated Appendix 3B has been lodged with the ASX in conjunction with the announcement.
Over-allotment and warrants
Nova has granted underwriters a 45-day option to purchase an additional 120,000 ADS to cover over-allotments. Subject to shareholder approval, Nova will also issue warrants to the underwriters to subscribe for 60,000 ADS (3.6 million ordinary shares). This increases to 66,000 ADS (3.96 million shares) if the over-allotment is fully exercised.
ThinkEquity is acting as sole book-running manager for the offering.