Probably wanting to gain more funding. But I'm not sure why doing it as warrants instead of a larger raising.
Maybe the US investors weren't interested in investing any more right now, but management see the warrants as a way to likely encourage them to invest more.
But the 5 years adds a big time premium, making them more valuable like options, simply to encourage take-up of the regular shares in the IPO. A quite big bonus.
If it was me, I'd be waiting 4.5 years before converting...save my capital, while retaining the upside.
Ann: Nova Announces Pricing of US$3.3m NASDAQ IPO, page-27
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Last
15.5¢ |
Change
0.010(6.90%) |
Mkt cap ! $42.15M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 15.8¢ | 14.5¢ | $84.21K | 552.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 201795 | 15.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 162279 | 4 |
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| Last trade - 13.51pm 04/10/2024 (20 minute delay) ? |
| NVA (ASX) Chart |