---
schema_version: "secwatch.filing_event.v1"
accession: "0000085535-25-000107"
form_type: "8-K"
ticker: "RGLD"
cik: "0000085535"
company_name: "ROYAL GOLD INC"
filed_at: "2025-07-10T23:59:59+00:00"
generated_at: "2026-05-18T08:49:18.188744+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Royal Gold to acquire Sandstorm Gold in stock deal and Horizon Copper for C$2.00/share

## Summary
- Sandstorm shareholders receive 0.0625 RGLD share per SAND share in all-stock transaction.
- Horizon shareholders get C$2.00/share in cash; total Horizon consideration C$2.00 per share.
- Termination fees: RGLD pays $200M to Sandstorm; Sandstorm pays $130M; Horizon pays $10M; RGLD pays $15M.
- Support agreements: insiders holding ~54% of Horizon and ~1% of Sandstorm shares committed to vote in favor.
- Approvals required: shareholder votes (66 2/3% for Sandstorm), court and regulatory clearance; deadline Jan 6, 2026.

## SEC filing metadata
- accession: 0000085535-25-000107
- form_type: 8-K
- ticker: RGLD
- cik: 0000085535
- company_name: ROYAL GOLD INC
- filed_at: 2025-07-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/85535/000008553525000107/0000085535-25-000107-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/85535/000008553525000107/rgld-20250706.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000085535-25-000107
- JSON: https://secwatch.observer/filing/0000085535-25-000107.json
- Plain text: https://secwatch.observer/filing/0000085535-25-000107.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.