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Financings

Sprott Physical Platinum and Palladium Trust Updates its "At-the-Market" Equity Program

By The Northwire Desk — AI Analysis Oct 10, 2025 · 17:01 SPPP · 20.175 SPROTT PHYSICAL PLATINUM & PALLADIUM TR
SPPP · Price

Executive Summary

  • Sprott Asset Management announced an amendment to the Trust’s at‑the‑market (ATM) equity program, increasing the authorized issuance capacity to up to US$250 million of units.
  • The additional capital will be used to acquire physical platinum and palladium bullion in line with the Trust’s investment objectives.
  • The ATM program will continue to be executed through designated U.S. and Canadian agents on NYSE Arca and the Toronto Stock Exchange, subject to market pricing and applicable listing requirements.

Key Details

  • Program Expansion: Updated ATM equity program now permits issuance of up to US$250 million of Trust units in the United States and Canada.
  • Sales Agreement: Amended and restated Sales Agreement dated Dec 6 2024, as amended May 2 2025, governs the distributions; available on SEC EDGAR and SEDAR+.
  • Agents: U.S. agents – Cantor Fitzgerald & Co., Virtu Americas LLC, BMO Capital Markets Corp., Canaccord Genuity LLC; Canadian agents – Cantor Fitzgerald Canada Corp., Virtu Canada Corp., BMO Nesbitt Burns Inc., Canaccord Genuity Corp.
  • Distribution Mechanics: Units sold “at‑the‑market” on NYSE Arca and TSX at prevailing market prices; U.S. agents sell only in the U.S., Canadian agents only in Canada.
  • Use of Proceeds: Intended to acquire physical platinum and palladium bullion, consistent with Trust’s objective and investment/operating restrictions.
  • Regulatory Filings: Prospectus supplement dated Oct 10 2025 filed with SEC (Form F‑10, File No. 333-290826) and Canadian short‑form base shelf prospectus; documents accessible via SEC and SEDAR+ websites.
  • Listing Requirements: Units listed on NYSE and TSX must satisfy all applicable exchange listing standards.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →