Novagold Closes $179M Upsized Public Offering of Common Shares.
ByAinvest
Monday, May 12, 2025 6:06 am ET1min read
NG--
The proceeds from the public offering will be used to fund the purchase price for NovaGold’s previously announced acquisition of an additional 10% ownership interest in Donlin Gold and to update the feasibility study. The stock price slumped 5% on Tuesday during after-market hours of trading following the announcement of the offering [1].
The company's plans for the year 2025 include a $43 million budget for advancing the Donlin Gold project, which is expected to boost exploration and development efforts. NovaGold Resources has been positively impacted by rising gold prices and increased U.S. drilling activities, which have lifted the company's outlook [2].
References:
[1] https://seekingalpha.com/news/4442813-novagold-resources-dips-5-on-stock-offering
[2] https://seekingalpha.com/news/4442813-novagold-resources-dips-5-on-stock-offering
NVA--
NOVAGOLD Resources Inc. has closed a $179.4 million upsized public offering of 47.85 million common shares at $3.75 per share. The company also closed a private placement for 17.17 million common shares, bringing the total gross proceeds to approximately $196.6 million. The underwriters have a 30-day option to purchase up to 7.18 million additional shares.
NovaGold Resources Inc. (NG) has successfully closed a $179.4 million public offering of 47.85 million common shares at $3.75 per share. The company also completed a private placement for 17.17 million common shares, bringing the total gross proceeds to approximately $196.6 million. The underwriters have a 30-day option to purchase up to 7.18 million additional shares.The proceeds from the public offering will be used to fund the purchase price for NovaGold’s previously announced acquisition of an additional 10% ownership interest in Donlin Gold and to update the feasibility study. The stock price slumped 5% on Tuesday during after-market hours of trading following the announcement of the offering [1].
The company's plans for the year 2025 include a $43 million budget for advancing the Donlin Gold project, which is expected to boost exploration and development efforts. NovaGold Resources has been positively impacted by rising gold prices and increased U.S. drilling activities, which have lifted the company's outlook [2].
References:
[1] https://seekingalpha.com/news/4442813-novagold-resources-dips-5-on-stock-offering
[2] https://seekingalpha.com/news/4442813-novagold-resources-dips-5-on-stock-offering
Stay ahead of the market.
Get curated U.S. market news, insights and key dates delivered to your inbox.
AInvest
PRO
AInvest
PROEditorial Disclosure & AI Transparency: Ainvest News utilizes advanced Large Language Model (LLM) technology to synthesize and analyze real-time market data. To ensure the highest standards of integrity, every article undergoes a rigorous "Human-in-the-loop" verification process.
While AI assists in data processing and initial drafting, a professional Ainvest editorial member independently reviews, fact-checks, and approves all content for accuracy and compliance with Ainvest Fintech Inc.’s editorial standards. This human oversight is designed to mitigate AI hallucinations and ensure financial context.
Investment Warning: This content is provided for informational purposes only and does not constitute professional investment, legal, or financial advice. Markets involve inherent risks. Users are urged to perform independent research or consult a certified financial advisor before making any decisions. Ainvest Fintech Inc. disclaims all liability for actions taken based on this information. Found an error?Report an Issue
Comments
No comments yet