Nova Minerals Limited Announces Pricing of Public Offering

Rhea-AI Summary

Nova Minerals (NASDAQ: NVA), a gold and critical minerals exploration company, has announced the pricing of its public offering of 1,200,000 American Depository Shares (ADS) at $9.25 per ADS, aiming to raise approximately $11.1 million in gross proceeds.

The offering includes a 45-day option for underwriters to purchase up to 120,000 additional ADSs for over-allotments. Each ADS represents 60 ordinary shares. The proceeds will fund resource and exploration programs, drilling, feasibility studies, and working capital. ThinkEquity serves as the sole book-running manager, with the offering expected to close on July 16, 2025.

Positive

• Secured $11.1 million in gross proceeds through ADS offering
• Funds allocated for resource exploration and feasibility studies
• Additional 120,000 ADS over-allotment option available

Negative

• Potential dilution for existing shareholders through ADS offering
• Company still in exploration stage with no revenue generation

Insights

Capital Markets Specialist

Nova Minerals raises $11.1M through ADS offering to fund Alaskan gold project exploration, diluting existing shareholders.

Nova Minerals has priced its underwritten public offering of 1,200,000 American Depository Shares at $9.25 per ADS, raising gross proceeds of approximately $11,100,000. Each ADS represents 60 ordinary shares of the company, effectively creating significant new equity in the market. The underwriters also have a 45-day option to purchase an additional 120,000 ADSs to cover potential over-allotments.

The capital raise is specifically earmarked for advancing the company's Estelle Gold and Critical Minerals Project in Alaska through resource development, exploration drilling, feasibility studies, and general working capital needs. This funding mechanism allows Nova to access U.S. capital markets while maintaining its Australian listing.

ThinkEquity is serving as the sole book-running manager for this transaction, which is expected to close on July 16, 2025. The offering creates immediate dilution for existing shareholders but provides necessary capital for Nova's exploration-stage operations. As an exploration company without significant revenue streams, Nova relies on periodic capital raises like this to fund ongoing operations and advance its projects toward potential production.

The timing of this capital raise suggests Nova is capitalizing on current market conditions to secure funding for its Alaska operations, though investors should note the dilutive effect on per-share metrics. The completion of this financing provides Nova with a runway to execute on its exploration and development plans in the near term without immediate additional capital needs.

Melbourne, Australia, July 14, 2025 (GLOBE NEWSWIRE) -- Nova Minerals Limited (“Nova” and the “Company”) (Nasdaq NVA, NVAWW) (ASX: NVA), (OTC: NVAAF)(FSE: QM3)), a gold and critical minerals exploration stage company focused on advancing the Estelle Gold and Critical Minerals Project in Alaska, U.S.A., today announced the pricing of an underwritten public offering of 1,200,000 American Depository Shares (“ADS"), with an ADS-to-ordinary-share ratio of 1 to 60, at a price to the public of $9.25 per ADS, for gross proceeds of approximately $11,100,000, before deducting underwriting discounts and offering expenses. In addition, Nova has granted the underwriters a 45-day option to purchase up to an additional 120,000 ADSs to cover over-allotments, if any.

The Company intends to use the proceeds for resource and exploration field programs, including additional drilling and exploration, feasibility studies, and general working capital.

The offering is expected to close on July 16, 2025, subject to satisfaction of customary closing conditions.

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

A registration statement on Form F-1 (File No. 333-288506) relating to the public offering was filed with the Securities and Exchange Commission (“SEC”) and became effective on July 14 2025. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 41^st Floor, New York, New York 10004. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Nova Minerals Limited
Nova Minerals Limited is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km² of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Barrick's Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer.

Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Nova Minerals Limited’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Nova Minerals Limited undertakes no duty to update such information except as required under applicable law.

For Additional Information Please Contact
Craig Bentley
Director of Finance & Compliance & Investor Relations
E: craig@novaminerals.com.au
M: +61 414 714 196

FAQ

What is the price of Nova Minerals' (NVA) ADS offering in July 2025?

Nova Minerals priced its ADS offering at $9.25 per ADS, with each ADS representing 60 ordinary shares.

How much money is Nova Minerals (NVA) raising in its public offering?

Nova Minerals is raising approximately $11.1 million in gross proceeds through the offering of 1,200,000 American Depository Shares.

What will Nova Minerals use the proceeds from its 2025 public offering for?

The proceeds will be used for resource and exploration field programs, including additional drilling and exploration, feasibility studies, and general working capital.

When will Nova Minerals' (NVA) public offering close?

The public offering is expected to close on July 16, 2025, subject to customary closing conditions.

Who is the underwriter for Nova Minerals' 2025 public offering?

ThinkEquity is acting as the sole book-running manager for Nova Minerals' public offering.