Key Developments: Sprott Physical Gold Trust (PHYS.K)
11.68USD
20 May 2013
$0.40 (+3.55%)
$11.28
$11.25
$11.69
$11.21
2,945,753
1,797,669
$15.42
$11.16
Latest Key Developments (Source: Significant Developments)
Sprott Physical Gold Trust Announces Completion Of Follow-on Offering Of Trust Units
Sprott Physical Gold Trust announced that it has completed its follow-on offering of 26,450,000 transferable, redeemable units of the Trust (the Units) at USD14.84 per Unit for gross proceeds of USD392,518,000 (the Offering). This includes the exercise in full by the underwriters of their over-allotment option. The Trust will use the net proceeds of the Offering to acquire physical gold bullion in accordance with the Trust's objective and subject to the Trust's investment and operating restrictions described in the prospectus related to the Offering. The net proceeds of the Offering per Unit are greater than 100% of the recently calculated net asset value per Unit of the Trust prior to, or upon determination of, pricing of the Offering, as required under the trust agreement governing the Trust. Full Article
Sprott Physical Gold Trust Prices Follow On Offering Of Trust Units In Aggregate Amount Of $341,320,000
Sprott Physical Gold Trust announced that it has priced its follow-on offering of 23,000,000 transferable, redeemable units of the Trust (Units) at a price of $14.84 per unit (the Offering). As part of the Offering, the Trust has granted the underwriters an over-allotment option to purchase up to 3,450,000 additional Units. The gross proceeds from the Offering will be $341,320,000 ($392,518,000 if the underwriters exercise in full the over-allotment option). The Trust will use the net proceeds of the Offering to acquire physical gold bullion in accordance with the Trust's objective and subject to the Trust's investment and operating restrictions described in the prospectus related to the Offering. Under the trust agreement governing the Trust, the net proceeds of the Offering per unit must be not less than 100% of the most recently calculated net asset value per Unit of the Trust prior to, or upon determination of, pricing of the Offering. Full Article
Sprott Physical Gold Trust Announces Follow On Offering Of Trust Units
Sprott Physical Gold Trust announced that it has launched a follow-on offering (the Offering) of transferable, redeemable units of the Trust (Units). The Trust will use the net proceeds of the Offering to acquire physical gold bullion in accordance with the Trust's objective and subject to the Trust's investment and operating restrictions described in the prospectus related to the Offering. Under the trust agreement governing the Trust, the net proceeds of the Offering per unit must be not less than 100% of the most recently calculated net asset value per Unit of the Trust prior to, or upon determination of, pricing of the Offering. The Units are listed on NYSE Arca and the Toronto Stock Exchange under the symbols PHYS and PHY.U, respectively. The Offering will be made simultaneously in the United States and Canada by underwriters led by Morgan Stanley and RBC Capital Markets in the United States and RBC Capital Markets and Morgan Stanley in Canada. Full Article
Sprott Physical Gold Trust Announces Exercise Of Over-allotment Option By Underwriters In Follow-on Offering Of Trust Units
Sprott Physical Gold Trust announced that the underwriters for the previously announced follow-on public offering of units of the Trust have purchased an additional 3,000,000 Units in connection with the exercise of their over-allotment option. Including this exercise of the over-allotment option, the gross proceeds of the Offering were $349,370,000, consisting of 23,000,000 Units offered at $15.19 per Unit. The Trust will use the net proceeds of this Offering to acquire physical gold bullion in accordance with the Trust's objective and subject to the Trust's investment and operating restrictions described in the prospectus related to this Offering. The net proceeds of the Offering per Unit are greater than 100% of the most recently calculated net asset value per Unit of the Trust prior to pricing of the Offering, as required under the trust agreement governing the Trust. Full Article
Sprott Physical Gold Trust Announces Completion Of Follow-on Offering Of Trust Units
Sprott Physical Gold Trust announced that it has completed its follow-on offering of 20,000,000 transferable, redeemable units of the Trust at $15.19 per Unit for gross proceeds of $303,800,000. The Trust will use the net proceeds of the Offering to acquire physical gold bullion in accordance with the Trust's objective and subject to the Trust's investment and operating restrictions described in the prospectus related to the Offering. The net proceeds of the Offering per Unit are greater than 100% of the most recently calculated net asset value per Unit of the Trust prior to, or upon determination of, pricing of the Offering, as required under the trust agreement governing the Trust. Full Article
Sprott Physical Gold Trust Prices Follow-On Offering of Trust Units In An Aggregate Amount of USD303,800,000
Sprott Physical Gold Trust announced that it has priced its follow-on offering of 20,000,000 transferable, redeemable units of the Trust (Units) at a price of USD15.19 per unit (Offering). As part of the Offering, the Trust has granted the underwriters an over-allotment option to purchase up to 3,000,000 additional Units. The gross proceeds from the Offering will be USD303,800,000 (USD349,370,000 if the underwriters exercise in full the over-allotment option). The Trust will use the net proceeds of the Offering to acquire physical gold bullion in accordance with the Trust's objective and subject to the Trust's investment and operating restrictions described in the prospectus related to the Offering. Under the trust agreement governing the Trust, the net proceeds of the Offering per unit must be not less than 100% of the most recently calculated net asset value per Unit of the Trust prior to, or upon determination of, pricing of the Offering. Full Article
Sprott Physical Gold Trust Announces Follow-on Offering Of Trust Units
Sprott Physical Gold Trust announced that it has launched a follow-on offering of transferable, redeemable units of the Trust. The Trust will use the net proceeds of the Offering to acquire physical gold bullion in accordance with the Trust's objective and subject to the Trust's investment and operating restrictions described in the prospectus related to the Offering. Under the trust agreement governing the Trust, the net proceeds of the Offering per unit must be not less than 100% of the most recently calculated net asset value per Unit of the Trust prior to, or upon determination of, pricing of the Offering. Full Article
Sprott Physical Gold Trust Announces Exercise Of Over-allotment Option By Underwriters In Follow-on Offering Of Trust Units
Sprott Physical Gold Trust announced that the underwriters for the previously announced follow-on public offering of units of the Trust have purchased an additional 2,850,000 Units following the exercise of their over-allotment option. Including this exercise of the over-allotment option, the gross proceeds of the Offering were $305,900,000, consisting of 21,850,000 Units offered at $14.00 per Unit. The Trust will use the net proceeds of this Offering to acquire physical gold bullion in accordance with the Trust's objective and subject to the Trust's investment and operating restrictions described in the prospectus related to this Offering. The net proceeds of the Offering per Unit are greater than 100% of the most recently calculated net asset value per Unit of the Trust prior to pricing of the Offering, as required under the trust agreement governing the Trust. The Offering was made simultaneously in the United States and Canada through a syndicate of underwriters led by Morgan Stanley and RBC Capital Markets in the United States and RBC Capital Markets and Morgan Stanley in Canada. Full Article
Sprott Physical Gold Trust Announces Completion Of Follow-on Offering Of Trust Units
Sprott Physical Gold Trust announced that it has completed its follow-on offering of 19,000,000 Units at USD14.00 per Unit for gross proceeds of USD266,000,000 (the Offering). The Trust will use the net proceeds of this Offering to acquire physical gold bullion in accordance with the Trust's objective and subject to the Trust's investment and operating restrictions described in the prospectus related to this Offering. The net proceeds of the Offering per Unit are greater than 100% of the recently calculated net asset value per Unit of the Trust prior to pricing of the Offering, as required under the trust agreement governing the Trust. Full Article
Sprott Physical Gold Trust Prices Follow-On Offering Of Trust Units In An Aggregate Amount Of $266 Million
Sprott Physical Gold Trust announced that it has priced its follow-on offering of 19,000,000 transferable, redeemable units of the Trust at a price of $14.00 per unit. As part of the Offering, the Trust has granted the underwriters an over-allotment option to purchase up to 2,850,000 additional Units. The gross proceeds from the Offering will be $266 million ($305.9 million if the underwriters exercise in full the over-allotment option). The Trust will use the net proceeds of this Offering to acquire physical gold bullion in accordance with the Trust's objective and subject to the Trust's investment and operating restrictions described in the prospectus related to this Offering. Under the trust agreement governing the Trust, the net proceeds of the Offering per unit must be not less than 100% of the most recently calculated net asset value per Unit of the Trust prior to, or upon determination of, pricing of the Offering. Full Article
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