Key Developments: Sprott Physical Silver Trust (PSLV.W)
8.69USD
17 May 2013
$-0.18 (-2.03%)
$8.87
$8.79
$8.80
$8.69
2,000
3,497
$14.47
$8.69
Latest Key Developments (Source: Significant Developments)
Sprott Physical Silver Trust Announces Completion of Follow On Offering of Trust Units
Sprott Physical Silver Trust announced that it has completed its follow-on offering of 20,500,000 units of the Trust at USD13.15 per Unit for gross proceeds of USD269,575,000. The Trust will use the net proceeds of the Offering to acquire physical silver bullion in accordance with the Trust's objective. Full Article
Sprott Physical Silver Trust Announces Follow On Offering Of Trust Units
Sprott Physical Silver 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 silver 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 Silver Trust Announces Exercise Of Over-allotment Option By Underwriters In Follow-on Offering Of Trust Units
Sprott Physical Silver Trust announced that the underwriters for the previously announced follow-on public offering (the Offering) of units of the Trust have purchased an additional 1,826,752 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 approximately USD220,190,610, consisting of 19,926,752 Units offered at USD11.05 per Unit. The Trust will use the net proceeds of this Offering to acquire physical silver 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 Silver Trust Announces Completion of Follow-On Offering of Trust Units
Sprott Physical Silver Trust announced that it has completed its follow-on offering of 18,100,000 units of the Trust at USD11.05 per Unit for gross proceeds of USD200,005,000. The Trust will use the net proceeds of the Offering to acquire physical silver 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. Once the Trust has taken delivery of all the silver bullion and the silver custodian has processed all the bars into inventory, the Trust will publish the serial numbers of all bars held by the Trust on its website. The net proceeds of the Offering per Unit were 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. The Units are listed on NYSE Arca and the Toronto Stock Exchange. The Offering was 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 Silver Trust Prices Follow-on Offering Of Trust Units In An Aggregate Amount Of $200,005,000
Sprott Physical Silver Trust (the Trust) announced that it has priced its follow-on offering of 18,100,000 transferable, redeemable units of the Trust (Units) at a price of $11.05 per Unit (the Offering). As part of the Offering, the Trust has granted the underwriters an over-allotment option to purchase up to 2,715,000 additional Units. The gross proceeds from the Offering will be $200,005,000 ($230,005,750 if the underwriters exercise in full the over-allotment option). The Trust will use the net proceeds of the Offering to acquire physical silver 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 Silver Trust Announces Follow-on Offering of Trust Units
Sprott Physical Silver 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 silver 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 PSLV and PHS.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 Silver Trust Announces Completion Of Follow-on Offering Of Trust Units
Sprott Physical Silver Trust announced that it has completed its follow-on offering of 26,450,000 units of the Trust at $13.20 per Unit for gross proceeds of $349,140,000. This includes the exercise in full by the underwriters of their over-allotment option. Purchasers in the Offering included Sprott Inc. and the Sprott Foundation, which are affiliates of the Manager. The Trust will use the net proceeds of the Offering to acquire physical silver 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, and as of January 23, 2012 has contracted to purchase a total of approximately 10.57 million troy ounces of physical silver bullion. The net proceeds of the Offering per Unit were 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. The Offering was 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 Silver Trust Prices Follow-On Offering Of Trust Units In Aggregate Amount Of USD303,600,000
Sprott Physical Silver 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 USD13.20 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 USD303,600,000 (USD349,140,000 if the underwriters exercise in full the over-allotment option). The Trust will use the net proceeds of the Offering to acquire physical silver 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 recently calculated net asset value per Unit of the Trust prior to, or upon determination of, pricing of the Offering. Full Article
Sprott Physical Silver Trust Announces Follow-On Offering Of Trust Units
Sprott Physical Silver 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 silver 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 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
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