Chilwa Minerals Closes $3.5M Nasdaq ADS Offering
Australian miner Chilwa Minerals raised $3.5M through 625,000 ADSs and warrants priced at $5.60, now trading on Nasdaq under 'CHWM.'
Chilwa Minerals Limited, an Australian mining company dual-listed on the ASX and Nasdaq, announced Thursday the completion of an underwritten public offering that raised US$3.5 million in gross proceeds before underwriting discounts and related expenses.
The offering comprised 625,000 American Depositary Shares alongside warrants granting holders the right to purchase an equivalent number of ADSs. Both the shares and the accompanying warrants were priced at US$5.60 per ADS. Each ADS issued in the offering represents 10 ordinary shares of Chilwa Minerals.
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The warrants are exercisable immediately from the date of issuance and carry a five-year expiration window, giving investors an extended horizon to act on the instruments at the original offering price. No step-up or variable exercise terms were disclosed in the announcement.
Chilwa's ADSs began trading on the Nasdaq Capital Market under the ticker symbol "CHWM" on October 1, 2026, one day before the closing was formally announced. The company is listed on the Australian Securities Exchange under the ticker "CHW."
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