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Sprott Completes Initial Public Offering of Sprott Physical Silver Trust
Sprott Completes Initial Public Offering of Sprott Physical Silver Trust
About this update from Sprott Inc.
[{"type":"text","content":"\n\n\n\n Nov. 3, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTORONTO, Nov. 3 /CNW/ - Sprott Inc. (TSX: SII) ("Sprott") today\n announced that Sprott Physical Silver Trust (the "Trust"), a trust\n created to invest and hold substantially all its assets in physical\n silver bullion and managed by Sprott Asset Management LP, a\n wholly-owned subsidiary of Sprott, has completed its initial public\n offering (the "Offering") of 57,500,000 units ("Units") at US$10.00 per\n Unit (including the exercise by the underwriters of their entire\n overallotment of 7,500,000 Units), for gross proceeds of\n US$575,000,000.\n\n\nThe Units are listed on the NYSE Arca and the Toronto Stock Exchange\n under the symbols 'PSLV' and 'PHS.U', respectively. The Offering was\n made simultaneously in the United States and Canada through a syndicate\n of underwriters led by Morgan Stanley and RBC Capital Markets in the\n United States and RBC Capital Markets and Morgan Stanley in Canada. The\n Canadian syndicate includes TD Securities Inc., Canaccord Genuity\n Corp., National Bank Financial Inc., BMO Capital Markets, HSBC\n Securities (Canada) Inc., GMP Securities L.P., Wellington West Capital\n Markets Inc., and Mackie Research Capital Corporation.\n\n\nCopies of the U.S. prospectus related to this Offering may be obtained\n by contacting Morgan Stanley & Co. Incorporated, 180 Varick Street, 2nd\n Floor, New York, New York 10014 Attention: Prospectus Department\...