Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF) anticipates it will complete the regulatory steps necessary to dual list to the Nasdaq in the June quarter, having made solid progress toward that goal over the last few months.
The company intends to undertake an initial public offering (IPO) on the Nasdaq within months, subject to market conditions, Nasdaq listing approval and satisfaction of US regulatory requirements.
Nova believes the dual listing will provide an easier path of investment for parties interested in the US-based Estelle Gold Project, the company’s flagship asset.
It would also give Nova Minerals access to a wide range of new funding options, including potential US State and Federal grants for critical minerals.
Light at the end of a long, hard road
“We are pleased with the momentum of the US listing process which has been a long, hard road, and I give credit to the amazing team that we have established to get it to this stage and we look forward to updating shareholders in due course,” Nova Minerals CEO Christopher Gerteisen said.
Apart from investment and funding opportunities, Nova also points to the increased liquidity and enhanced company valuations available on US markets.
“In our opinion, these capital markets are more in tune with large bulk tonnage projects like Estelle which we believe is evident in the higher valuations of our North American peers,” the company stated.
Nova has advanced the process significantly, having already appointed a lead underwriter, completed an audit on financial statements and PCAOB, prepared a Registration Statement Form F-1 and made initial confidential submissions with the US Securities and Exchange Commission (SEC).