Royal Gold Submits Proxy Statement for Sandstorm Gold Buyout Deal

Core Viewpoint - Royal Gold, Inc. is pursuing an acquisition of Sandstorm Gold Ltd. in an all-stock deal valued at $3.5 billion, which is expected to enhance its position in the North American precious metals market [1][4][5]. Group 1: Acquisition Details - Royal Gold submitted a definitive proxy statement to the U.S. Securities and Exchange Commission for the acquisition of Sandstorm Gold [1]. - The acquisition involves offering 0.0625 Royal Gold shares for each Sandstorm share, representing a 21% premium based on the 20-day VWAP and a 17% premium based on the closing price on July 3, 2025 [4]. - Post-acquisition, Sandstorm shareholders will receive approximately 19 million Royal Gold shares, equating to about 23% of Royal Gold's fully diluted shares [4][7]. Group 2: Approval Process - A special meeting for Royal Gold shareholders is scheduled for October 9, 2025, to vote on the approval of the share issuance for the Sandstorm transaction [1][5]. - Sandstorm Gold shareholders will also hold a meeting on the same date to seek approval for the deal [5]. Group 3: Market Performance - Over the past year, Royal Gold's shares have increased by 38.6%, while the industry has seen a more significant rise of 73.9% [6].