IPO - Sprott Physical Silver Trust

Form Type: SUPPL

Filing Date: 2025-05-02

Corporate Action: Ipo

Type: New

Accession Number: 000199937125005304

Filing Summary: On May 2, 2025, Sprott Physical Silver Trust filed a prospectus supplement under the General Instruction II.L of Form F-10 relating to an offering of up to U.S.$1,000,000,000 trust units. The offering facilitates the distribution of transferable, redeemable trust units representing undivided ownership interests in the trust's net assets. The Trust is structured to acquire physical silver bullion as per its investment objectives. The trust units will be distributed through specific agents appointed for sales in the U.S. and Canada, with agents receiving a cash fee of up to 3% on gross proceeds. The offering will occur at prevailing market prices and does not require a minimum fundraising amount. Listing of the trust units is approved on NYSE Arca and TSX under symbols "PSLV" and appropriate currency designation. The document stresses that the securities regulatory authorities have not passed on the offering, and the financial disclosure conforms to Canadian standards under IFRS. The Trust's total net asset value as of May 1, 2025, was reported to be approximately U.S.$6.06 billion.