Well scrap that, it's 60:1!Just lost a quarter of the company...

Well scrap that, it's 60:1!

Just lost a quarter of the company for $8 million.


"We are offering 888,900 American depositary shares, or ADSs, in the United States, representing 53,334,000 ordinary shares of Nova Minerals Limited (“Nova Minerals,” “Nova,” “we,” “us,” “our,” or the “Company”) in a firm commitment offering. Each ADS represents 60 ordinary shares, no par value, deposited with the Bank of New York Mellon, as depositary. Prior to this offering, there has been no public market for ADSs representing our ordinary shares. We have applied to list the ADSs on the NYSE American under the symbol “NVA”. The closing of this offering is contingent upon the successful listing of the ADSs on the NYSE American. Our ordinary shares are listed on the Australian Securities Exchange, or ASX, under the symbol “NVA” and quoted on the OTC Pink market under the symbol “NVAAF” and Frankfurt Stock Exchange under the symbol “QM3”. On May 24, 2024, the last reported sale price of our ordinary shares on the ASX was A$0.235 per ordinary share. The ASX price per ordinary share on May 24, 2024, is equivalent to a price of US$9.60 per ADS, after giving effect to the Australian dollar/U.S. dollar exchange rate of A$1.00 to US$0.67 which was the noon buying rate of the Federal Reserve Bank of New York on May 24, 2024, and an ADS-to-ordinary share ratio of 1 to 60. We have estimated the offering price range between US$8.00 and US$10.00 per ADS and the assumed initial public offering price is the midpoint of this range, or US$9.00 per ADS. The actual initial public offering price per ADS will not be determined by any particular formula but will rather be determined through negotiations between us and the underwriters at the time of pricing. Therefore, the assumed initial public offering price used throughout this prospectus may not be indicative of the final initial offering price."