Nova Minerals, an Australian gold exploration company with a property in Alaska, raised $3 million by offering 0.5 million units at $6.92, below the range of $7 to $9. Each unit consists of one ADS and one warrant, exercisable at $7.27 per ADS.
The company is currently listed on the Australian Securities Exchange under the symbol “NVA,” as well as on the OTCQB (NVAAF) and the Frankfurt Stock Exchange (QM3).
Because the company offered units with warrants attached, raised less than $5 million, and has a market cap of less than $50 million at pricing, Nova Minerals will be excluded from Renaissance Capital’s 2024 IPO stats.
The company has the majority stake of the Estelle Gold Project, which comprises over 125,000 acres of land in Alaska northwest of Anchorage along the Tintina Gold Belt. The project contains multiple mining complexes across a mineralized corridor of over 20 identified gold prospects, including two already defined multi-million ounce resources across four deposits containing a combined 5.17 million ounces of gold. Recently the Company has also discovered antimony and other critical minerals coincident with the gold in surface sampling on numerous prospects across the project.
Nova Minerals plans to list on the Nasdaq under the symbol NVA. ThinkEquity acted as sole bookrunner on the deal.
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