Sprott Physical Gold Trust announced an expansion of its at‑the‑market equity program to raise up to $2 billion in units. The program will allow issuances on NYSE Arca and the Toronto Stock Exchange, with sales conducted by Cantor Fitzgerald, Virtu, BMO, and Canaccord.
Proceeds will be used to acquire physical gold bullion, supporting the trust’s objective of maintaining a fully allocated gold portfolio. The expansion follows a prior $1 billion ATM program announced in April 2025, and a $1 billion expansion in September 2024, marking a significant increase in capital‑raising capacity.
The move aligns with Sprott Inc.’s strategy to capitalize on rising gold prices and investor demand for physical gold exposure. Sprott Inc. has reported record assets under management and an 87% increase in net income in its most recent quarter, underscoring the company’s financial strength to support the program.
By expanding its capital base, the trust is positioned to acquire additional gold holdings and generate fee income, potentially enhancing its long‑term growth prospects.
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