Corporate ActionMay 4, 2026, 06:54 PM
Sprott Physical Copper Trust Updates ATM Program to US$500M
AI Summary
Sprott Physical Copper Trust announced an update to its at-the-market (ATM) equity program, allowing it to issue up to US$500 million of Units. This update is linked to the listing of the Trust's Units on NYSE Arca. The proceeds from the ATM Program will be utilized to acquire physical copper metal, consistent with the Trust's investment objective. The program will operate through an amended and restated sales agreement with various Canadian and U.S. agents, facilitating sales on both the NYSE and TSX.
Key Highlights
- Sprott Physical Copper Trust updated its at-the-market (ATM) equity program to issue up to US$500 million of Units.
- The ATM program update is in connection with the listing of the Trust's Units on NYSE Arca.
- Distributions under the ATM Program will be completed via an amended and restated sales agreement dated May 4, 2026.
- Sales of Units will be made through "at the market" issuances on the NYSE and Toronto Stock Exchange (TSX).
- Proceeds from the ATM Program will be used to acquire physical copper metal, aligning with the Trust's objective.
- The offering is made pursuant to a U.S. prospectus supplement and a Canadian amended and restated prospectus supplement, both dated May 4, 2026.