On December 6, 2024, Sprott Asset Management LP, a subsidiary of Sprott Inc., announced updates to the At-the-Market (ATM) equity programs for five of its physical trusts. These updates involve adding additional sales agents and amending sales agreements to facilitate the issuance of new units.
The Sprott Physical Gold Trust and Sprott Physical Silver Trust each updated their ATM programs to issue up to an additional US$1 billion of units. The Sprott Physical Uranium Trust also updated its program to issue up to US$1 billion of units, while the Sprott Physical Gold and Silver Trust updated for US$250 million, and the Sprott Physical Platinum and Palladium Trust for US$50 million.
The proceeds from these ATM programs are intended to be used by each respective Trust to acquire physical bullion or uranium, in accordance with their investment objectives. This strategy allows Sprott to expand the assets under management within its Exchange Listed Products segment, generating higher management fees for the company.
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