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TORONTO - Sprott Physical Platinum and Palladium Trust (NYSE:SPPP) (TSX:SPPP), currently valued at $378.73 million and showing impressive momentum with a 27.45% price gain over the past six months according to InvestingPro, announced Tuesday it has updated its at-the-market equity program to issue an additional $100 million of trust units in the United States and Canada.
The closed-ended mutual fund trust, which invests primarily in physical platinum and palladium bullion and maintains a GOOD financial health score according to InvestingPro analysis, made the announcement through a prospectus supplement dated September 9, 2025, to its short form base shelf prospectus dated June 12, 2025.
Distributions under the ATM program will be completed according to an amended and restated sales agreement with several agents including Cantor Fitzgerald, Virtu Americas, BMO Capital Markets, and Canaccord Genuity, along with their Canadian counterparts.
Sales of units will be made through at-the-market issuances on the NYSE Arca and Toronto Stock Exchange at prevailing market prices. The trust stated that the volume and timing of distributions will be determined at its sole discretion.
Proceeds from the ATM program will be used to acquire physical platinum and palladium bullion in accordance with the trust’s investment objectives.
The U.S. agents will only sell units on marketplaces in the United States and are not permitted to solicit offers in Canada, while the Canadian agents may only sell units on marketplaces in Canada.
Listing of the units sold through the program will be subject to fulfilling all applicable NYSE and TSX listing requirements.
The trust is managed by Sprott Asset Management LP, a subsidiary of Sprott Inc., a global asset manager specializing in precious metals and critical materials investments. The trust’s units have delivered an impressive 37.35% return year-to-date, trading at $12.21. For more detailed analysis and additional insights, investors can access comprehensive metrics through InvestingPro.
This information is based on a press release statement from the company.
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