Shearman & Sterling represented the underwriters, led by Morgan Stanley and RBC Capital Markets, in connection with Sprott Physical Gold Trust’s public offering of units in the United States and Canada. Gross proceeds from the offering were approximately $278.6 million
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Sprott Physical Gold Trust was created to invest and hold substantially all its assets in physical gold bullion. It aims to provide a secure, convenient and exchange-traded investment alternative for investors interested in holding physical gold bullion without the inconvenience that is typical of a direct investment in physical gold bullion.
The following Shearman & Sterling team advised the underwriters in the transaction: partners Christopher Cummings (Toronto-Capital Markets), Larry Crouch (Menlo Park-Tax) and Russell Sacks (New York-Financial Institutions Advisory & Financial Regulatory), counsel Stephen Centa (Toronto-Capital Markets), associates Hugo Sin (Toronto-Capital Markets), Tina Li (Toronto-Capital Markets), Michael Blankenship (New York-Financial Institutions Advisory & Financial Regulatory), Steven Blau (New York-Financial Institutions Advisory & Financial Regulatory) and Eileen O’Pray (Menlo Park-Tax), and legal assistant Lynne N. Johnson.
