Namib Minerals (NASDAQ: NAMM) supplement registers 1.75M shares
Rhea-AI Filing Summary
Namib Minerals proposes resale registration of up to 1,750,000 ordinary shares. The supplement updates the April 7, 2026 prospectus to register shares that may be issued pursuant to an Amended and Restated Promissory Note with a face value of $3.5 million held by Cohen & Company Securities, LLC as Selling Shareholder.
The supplement incorporates a Form 6-K reporting a director resignation effective June 3, 2026 and the Board's appointment, effective June 4, 2026, of Pascoal Alberto Bacela as an independent director and audit committee member; his initial term expires at the 2027 annual general meeting.
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Key Figures
Registered shares: 1,750,000 shares
Promissory Note face value: $3.5 million
Ordinary share closing price: $2.00
+3 more
6 metrics
Registered shares
1,750,000 shares
Prospectus Supplement No.1 (to April 7, 2026 Prospectus)
Promissory Note face value
$3.5 million
Amended and Restated Promissory Note dated December 9, 2025
Ordinary share closing price
$2.00
Closing price on June 4, 2026
Warrant closing price
$0.2449
Closing price on June 4, 2026
Director appointment age
63 years
Pascoal Alberto Bacela, appointed June 4, 2026
Director term
Expires at 2027 annual general meeting
Initial term for Pascoal Alberto Bacela
Key Terms
Amended and Restated Promissory Note, Selling Shareholder, Form 6-K, Audit Committee
4 terms
Amended and Restated Promissory Note financial
"issued by the Company to the Selling Shareholder with a face value of $3.5 million"
Form 6-K regulatory
"This Supplement is to update with information contained in our Report on Form 6-K submitted June 5, 2026"
A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.
Audit Committee governance
"Mr. Bacela was appointed as a member of the audit committee"
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does the Namib Minerals (NAMM) prospectus supplement register?
The supplement registers up to 1,750,000 ordinary shares for resale by the Selling Shareholder. These shares may be issued pursuant to an Amended and Restated Promissory Note with a face value of $3.5 million, as stated in the supplement dated June 5, 2026.
What director changes did Namib Minerals disclose in the Form 6-K?
Ibrahima Tall resigned as a director effective June 3, 2026. The Board appointed Pascoal Alberto Bacela effective June 4, 2026, as an independent director and audit committee member, with an initial term expiring at the 2027 annual general meeting.
Does the supplement disclose current market prices for NAMM securities?
Yes. The supplement states closing trading prices on June 4, 2026: Ordinary Shares at $2.00 and Warrants at $0.2449, as disclosed on the prospectus cover page that the supplement updates.