Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, OTC:NVAAF) has priced an underwritten public offering on NASDAQ to raise US$20 million (A$30.2 million) in gross proceeds before underwriting discounts and offering costs.
The Alaska-focused gold and critical minerals explorer said it will issue 2,928,300 American Depositary Shares (ADSs) at US$6.83 per ADS, with each ADS representing 12 ordinary shares.
That equates to the issue of 35,139,600 ordinary shares represented by the ADSs.
Underwriters also have a 45-day option to purchase up to an additional 439,245 ADSs to cover any over-allotments.
Use of funds
Nova said it intends to apply the proceeds to planned exploration and development activities at its Estelle Gold and Critical Minerals Project in Alaska, including:
- additional drilling and exploration
- feasibility and environmental studies
- camp expansion
- permits and approvals
- initial development activities
- general corporate purposes and working capital
The offering is expected to close on Monday, December 22, 2025, subject to customary closing conditions.
ThinkEquity is acting as sole book-running manager for the offering.