Nova Minerals Issues Shares for Debt Conversion
Ticker: NVAAF · Form: 6-K · Filed: Jan 14, 2025 · CIK: 1852551
| Field | Detail |
|---|---|
| Company | Nova Minerals Ltd (NVAAF) |
| Form Type | 6-K |
| Filed Date | Jan 14, 2025 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $5,420,934, $8,751,911, $0.25 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-conversion, equity-issuance, financing
TL;DR
Nova Minerals converted $5.4M debt to equity with Nebari Gold Fund, issuing 35M shares.
AI Summary
On January 13, 2025, Nova Minerals Limited issued 35,007,644 ordinary shares to Nebari Gold Fund 1, LLP. This issuance was a result of Nebari converting US$5,420,934 (A$8,751,911) of principal, including discount and capitalized interest, under their convertible loan facility. The conversion occurred at a fixed price of A$0.25 per share, fully settling Nebari's outstanding debt.
Why It Matters
This transaction settles a significant debt obligation, potentially improving Nova Minerals' balance sheet and reducing future interest payments.
Risk Assessment
Risk Level: medium — The conversion of debt to equity can dilute existing shareholders and may indicate financial pressure on the company.
Key Numbers
- 35,007,644 — Shares Issued (Issued to Nebari Gold Fund upon debt conversion.)
- US$5.42M — Debt Converted (Principal amount of convertible loan facility converted to equity.)
- A$0.25 — Conversion Price (Fixed price at which the debt was converted to shares.)
Key Players & Entities
- Nova Minerals Limited (company) — Registrant
- Nebari Gold Fund 1, LLP (company) — Lender and Shareholder
- US$5,420,934 (dollar_amount) — Principal amount converted
- A$8,751,911 (dollar_amount) — Principal amount converted in AUD
- 35,007,644 (dollar_amount) — Number of ordinary shares issued
- January 13, 2025 (date) — Date of share issuance
- A$0.25 (dollar_amount) — Fixed conversion price per share
FAQ
What was the total principal amount converted from Nebari Gold Fund?
The total principal amount converted was US$5,420,934 (A$8,751,911).
How many shares did Nova Minerals issue to Nebari Gold Fund?
Nova Minerals issued 35,007,644 ordinary shares.
What was the conversion price per share?
The conversion price was a fixed A$0.25 per share.
What is the date of this share issuance?
The shares were issued on January 13, 2025.
What type of facility was converted?
A Nebari convertible loan facility was converted.
Filing Stats: 320 words · 1 min read · ~1 pages · Grade level 19.1 · Accepted 2025-01-14 06:45:08
Key Financial Figures
- $5,420,934 — quo;Nebari”) upon conversion of US$5,420,934 (A$8,751,911) in principal (including o
- $8,751,911 — quo;) upon conversion of US$5,420,934 (A$8,751,911) in principal (including original issue
- $0.25 — convertible loan facility (based on a A$0.25 fixed conversion price), which represen
Filing Documents
- form6-k.htm (6-K) — 18KB
- 0001493152-25-002020.txt ( ) — 19KB
From the Filing
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of January 2025 Commission File Number 001-42132 NOVA MINERALS LIMITED (Translation of registrant’s name into English) Suite 5, 242 Hawthorn Road, Caulfield, Victoria 3161 Australia +61 3 9537 1238 (Address of Principal Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F NOVA MINERALS LIMITED EXPLANATORY NOTE On January 13, 2025, Nova Minerals Limited (the “Company”) issued 35,007,644 ordinary shares of the Company to Nebari Gold Fund 1, LLP (“Nebari”) upon conversion of US$5,420,934 (A$8,751,911) in principal (including original issue discount and capitalized interest) under the Nebari convertible loan facility (based on a A$0.25 fixed conversion price), which represented full conversion of all amounts due to Nebari from the Company under such facility. The Company did not receive any proceeds upon the aforementioned conversion. The Company relied on the exemption from registration provided by Section 3(a)(9) and/or Section 4(a)(2) of the Securities Act of 1933, as amended for the issuance of the Company’s ordinary shares upon conversion of the Nebari convertible loan facility. This report on Form 6-K shall not be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. -2- SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. NOVA MINERALS LIMITED Date: January 14, 2025 By: /s/ Craig Bentley Name: Craig Bentley Title: Director of Finance and Compliance and Director -3-