Sprott Physical Uranium Trust Closes Upsized US$200 Million Bought Deal Financing

Core Viewpoint - Sprott Inc. successfully closed an upsized bought deal public offering for the Sprott Physical Uranium Trust, raising approximately US$200 million through the issuance of 11,600,000 units at a price of US$17.25 per unit, indicating strong investor support and confidence in the uranium market [2][4]. Group 1: Offering Details - The offering involved the issuance of 11,600,000 units at a price of US$17.25 per unit, resulting in total gross proceeds of approximately US$200 million [2]. - The net proceeds from the offering will be utilized to acquire physical uranium in the form of uranium oxide in concentrates, along with related fees and expenses [3]. - The net proceeds per unit received by the Trust were not less than 100% of the most recently calculated net asset value prior to the pricing determination [3]. Group 2: Market Context and Future Outlook - The CEO of Sprott Asset Management highlighted a positive long-term investment thesis for uranium, driven by a global nuclear renaissance, including plant life extensions and new builds supported by government policies [4]. - The Trust's ability to raise capital through various methods, including this offering and a previous private placement, demonstrates its strong market position [4]. - The Trust has temporarily suspended its at-the-market equity program to facilitate the offering and agreed not to issue any units for 30 days post-closing without the underwriter's consent [4].