Nova Minerals secures US$2.2M via NASDAQ public offering

Nova Minerals (ASX:NVA) has disclosed the pricing of its underwritten public offering on NASDAQ, comprising 430,000 American Depository Shares, with each ADS representing 60 ordinary shares.

Priced at US$5 ($7.32) per ADS, the offering's gross proceeds will be approximately US$2.2 million ($3.2 million) before underwriting discounts and expenses.

The company has granted underwriters a 45-day option to purchase up to an additional 43,000 ADS to address over-allotments.

The offering is scheduled to close on Sept. 25, subject to customary closing conditions.

ThinkEquity is the sole book-running manager for the offering.

Nova plans to allocate the funds for resource and exploration field programs, feasibility studies, and general working capital.

The shares are issued under the company's existing placement capacity according to ASX Listing Rules 7.1 and 7.1A.

"We are pleased to have reached this stage, which allows us to further our exploration programs," stated Christopher Gerteisen, CEO and Executive Director of Nova Minerals.

Nova Minerals is an ASX-listed mineral exploration company. The principal activity of the Company is focused on the exploration for and evaluation of mineral deposits. Its projects include the Estelle Gold Project, RPM, Korbel, Train, and Stoney.