Nanoveu Limited (NVU), an ASX-listed technology company, is undertaking a series of offers, including a ‘Cleansing Offer’ and an ‘Options Offer,’ as detailed in its latest prospectus. The Cleansing Offer aims to remove potential trading restrictions on shares previously issued, particularly those from a recent placement, by inviting investors to apply for up to 1,000 shares at $0.036 each, raising a nominal $36.
Concurrently, the Options Offer extends to participants of a prior placement, granting them one new option for every two shares subscribed. It also includes issuing 13,550,000 new options to the Joint Lead Managers, Evolution Capital and 62 Capital, as compensation for lead manager services. These options are exercisable at $0.045 until May 9, 2027. No funds will be raised directly from the Options Offer. However, if all options are exercised, the company would receive approximately $2,576,686.
The moves come after Nanoveu secured firm commitments to raise $2.3 million (before costs) through a placement of 74,193,549 shares at $0.031, with attaching options. The company later increased the placement to include an additional $410,000 due to executive team interest. Shareholder approval is pending for issuing securities to Executive Chairman David Pevcic.
The prospectus highlights that an investment in Nanoveu is speculative, detailing several risk factors. These include the potential for dilution upon option exercise, risks associated with the company’s ‘going concern’ status, challenges in earning returns from product sales, and the need to protect its intellectual property. The Company’s auditor has noted material uncertainty about its ability to continue as a going concern, dependent on securing additional funding and sales. The market price of Nanoveu shares has fluctuated, reaching a high of $0.059 in February and March 2025, and a low of $0.029 in April 2025. The last sale price before the prospectus was $0.036. The company aims to have the Options officially quoted on the ASX.
