Sprott Physical Copper Trust completes US$110M initial public offering

On June 6, 2024, Canaccord Genuity Corp., BMO Capital Markets, and Cantor Fitzgerald Canada Corporation, as joint bookrunners, and RBC Capital Markets and TD Securities Inc., as underwriters, assisted in Sprott Physical Copper Trust's initial public offering ("IPO") of 10 million transferable units at a price of US$10 per unit, generating proceeds of US$100 million.
In connection with the IPO, the underwriters partially exercised the over-allotment option and purchased 1 million transferable units of Sprott Physical Copper Trust at the initial public offering price of US$10 per unit, bringing the aggregate gross proceeds to US$110 million. Sprott will use the net proceeds to purchase copper.
McCarthy Tétrault advised Canaccord Genuity Corp., BMO Capital Markets, Cantor Fitzgerald Canada Corporation, RBC Capital Markets and TD Securities Inc. with a team led by Michael Eldridge that included Gurvir Sangha (Business), Nigel Johnston, Len Nesbitt, Stephanie Dewey, Michel Ranger, and Kathryn Walker (Tax).