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NOVAGOLD Prices $179 Million Underwritten Upsized Public Offering of Common Shares
All amounts are in U.S. dollars unless otherwise stated VANCOUVER, British Columbia, May 07, 2025 (GLOBE NEWSWIRE) -- NOVAGOLD RESOURCES INC. (“NOVAGOLD” or “the Company”) (NYSE American, TSX: NG) today announced pricing of its previously announced public upsized offering of 47,850,000 common shares of NOVAGOLD at a price to the public of $3.75 per share. All of the shares are being offered by NOVAGOLD. In addition, NOVAGOLD has granted the underwriters a 30-day option to purchase up to 7,177,50
About this update from Novagold Resources Inc.
[{"type":"image","alt":"NOVAGOLD RESOURCES INC.","displaySize":"","headline":null,"caption":"NOVAGOLD RESOURCES INC.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":42,"url":"https://media.zenfs.com/en/globenewswire.com/53a706d46475f11194553ce1d69391a8"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/to5JwiF5DDDno9OZv3vToQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTU5O2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/53a706d46475f11194553ce1d69391a8","width":300,"height":42}},"lazy":false},{"type":"text","content":"All amounts are in U.S. dollars unless otherwise stated","length":55,"tagName":"p"},{"type":"text","content":"VANCOUVER, British Columbia, May 07, 2025 (GLOBE NEWSWIRE) -- NOVAGOLD RESOURCES INC. (“NOVAGOLD” or “the Company”) (NYSE American, TSX: NG) today announced pricing of its previously announced public upsized offering of 47,850,000 common shares of NOVAGOLD at a price to the public of $3.75 per share. All of the shares are being offered by NOVAGOLD. In addition, NOVAGOLD has granted the underwriters a 30-day option to purchase up to 7,177,500 additional common shares at the public offering price, less underwriting discounts and commissions. Gross proceeds from the upsized offering are expected to be approximately $179.4 million, assuming no exercise of the underwriters’ option to purchase additional shares.","length":725,"tagName":"p"},{"type":"text","content":"Concurrently with the proposed upsized public offering, the Company intends to complete a private placement of 17,173,853 common shares to certain of its major shareholders at the public offering price. NOVAGOLD intends to use the net proceeds from the offering and the concurrent private placement described above to fund the purchase price for NOVAGOLD’s previously announced acquisition1 of an additional 10% ownership interest in Donlin Gold LLC and to use the remaining net proceeds, if any, for general corporate purposes including updating the feasibility study.","length":569,"tagName":"p"},{"type":"text","content":"Citigroup, RBC Capital Markets, BMO Capital Markets and Canaccord Genuity are acting as joint book-running managers for the public offering. National Bank of Canada Financial Markets, Scotiabank and Morgan Stanley are also acting as joint book-running managers for the public offering.","length":285,"tagName":"p"},{"t...