Sprott Physical Uranium Trust To Raise US$125 Million To Purchase Further Uranium
Increased interest in the uranium market has driven the Sprott Physical Uranium Trust (TSX: U.UN) to expand its ongoing at-the-market equity program by US$125 million.
The expansion will see the additional units sold to enable further purchases of physical uranium. The closed-ended fund to date has acquired 61.7 million pounds of U3O8, worth an estimated US$3.81 billion, with the uranium stored at three separate locations via agreements with Cameco, Orano, and ConverDyn.
READ: Sprott Physical Uranium Trust Looks To Buy More Uranium With $1.3 Billion ATM Offering
Distributions under the ATM facility are to occur only on Canadian exchanges, with the sales to be facilitated by Cantor Fitzgerald Canada.
The Sprott Physical Uranium Trust last traded at US$14.82 on the TSX.
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