Dec. 25 at 7:07 PM
$NVA underwriter partially exercised the Greenshoe (over-allotment option):
341,925 ADS @
$6.83 → total gross ~
$22.3M.
What that means:
Offering was over-subscribed
Demand > supply at the offering price
Dilution is now done and known
No more “offering overhang”
Greenshoe being exercised is generally bullish.
Market can now refocus on execution (Estelle).