Sprott Physical Uranium Trust (TSX: U.UN) announced on January 26 2026 that it has expanded its at‑the‑market (ATM) equity program to allow the issuance of up to U.S.$1 billion of units in Canada, giving the trust a flexible, market‑price‑based mechanism to raise capital on the Toronto Stock Exchange and other Canadian venues.
The program is governed by a revised sales agreement dated December 6 2024, which sets the terms for unit pricing, settlement, and regulatory compliance. The trust can now issue units at prevailing market prices, enabling it to capture favorable pricing without creating a large, single‑time offering that could disturb the market.
Proceeds from the ATM program will be deployed to acquire additional physical uranium, supporting the trust’s strategy to grow its inventory. As of January 23 2026, the trust held 75,539,404 pounds of U3O8—up from 68.4 million pounds after the previous capital raise—demonstrating a significant expansion of its physical holdings.
The expansion comes amid a strengthening uranium market, with long‑term prices rising, supply tightening, and increased policy support for nuclear power. The ATM program gives the trust the flexibility to capture favorable pricing and scale its holdings without market disruption, positioning it to benefit from the current tailwinds in the commodity.
For Sprott Inc., the parent manager, the new capital raise is expected to increase assets under management and fee generation, reinforcing its position as the world’s largest physical uranium fund and supporting its broader critical‑materials strategy.
The trust’s prior capital raise, which increased its stockpile to 68.4 million pounds, was announced earlier in 2025. The current figure of 75.5 million pounds demonstrates continued growth and the trust’s ability to deploy capital efficiently.
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