Nova Minerals Limited Announces Public Offering of ADSs

Nova Minerals Limited has successfully completed a public offering of 2,928,300 American Depositary Shares (ADSs), with each ADS representing twelve ordinary shares. The offering was priced at US$6.83 per ADS, generating approximately $18.6 million in net proceeds after deducting underwriting discounts and offering expenses. The company also granted the underwriters an option to purchase up to an additional 439,245 ADSs. The net proceeds from this offering are intended to fund exploration and development activities at the Estelle Project, including drilling, feasibility studies, and initial development, as well as for general corporate purposes and working capital. The offering was made under the Company's shelf registration statement on Form S-3, which became effective on December 17, 2025. The offering closed on December 22, 2025. As part of the underwriting agreement, the Company and its officers and directors are subject to a lock-up period, restricting the sale or disposal of ADSs or ordinary shares for three months after the closing date. Additionally, the Company is prohibited from entering into "at-the-market" or continuous equity transactions for six months following the closing date, with certain exceptions.