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| Home : Sprott Physical Silver Trust Announces Completion of its Follow-on Offering of Trust Units And Exercise of Underwriters' Overallotment Option |
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Apr 14
2016 |
Sprott Physical Silver Trust Announces Completion of its Follow-on Offering of Trust Units And Exercise of Underwriters' Overallotment Option |
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TORONTO, ONTARIO--(Marketwired - April 13, 2016) - Sprott Physical Silver Trust (the "Trust") (NYSE:PSLV)(TSX:PHS.U)(TSX:SII), a trust created to invest and hold substantially all of its assets in physical silver bullion and managed by Sprott Asset Management LP (the "Manager"), today announced that it has completed its follow-on offering of 12,300,000 units of the Trust (the "Initial Units") at US$6.09 per Unit for gross proceeds of US$74,907,000 (the "Offering"). In addition, the underwriters for the Offering have elected to purchase an additional 1,845,000 Units of the Trust in full exercise of their over-allotment option (the "Overallotment Units" and together with the Initial Units, the "Units"). The Overallotment Units are to be delivered on April 18, 2016. Including the Overallotment Units, the gross proceeds for the Offering are approximately US$86,143,050, consisting of 14,145,000 Units offered at US$6.09 per Unit. |
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| Source:http://www.marketwired.com/mw/release.do?id=2114690&sourceType=3 |
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