{"schema_version":"secwatch.filing_event.v1","accession":"0000085535-25-000149","form_type":"8-K","ticker":"RGLD","cik":"0000085535","company_name":"ROYAL GOLD INC","filed_at":"2025-10-21T23:59:59+00:00","discovered_at":"2026-05-14T18:02:42.368658+00:00","generated_at":"2026-05-17T03:09:41.532284+00:00","sec_items":["2.01","3.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Royal Gold completes acquisitions of Sandstorm Gold and Horizon Copper, creating premier streaming and royalty company","bullets":["Issued ~18.6M shares to Sandstorm shareholders; legacy RGLD holders own 77.5% of combined company.","Paid C$2.00/share cash for Horizon, total ~C$127M to shareholders (excl. Sandstorm).","Drew $450M on $1.4B credit facility to repay assumed debt and fund Horizon cash; total drawn now $1.225B.","Combined company has ~84.4M shares outstanding, lowest share count among GDX constituents.","Expects to repay borrowings within two years under current metal prices and no further investments."],"urls":{"canonical":"https://secwatch.observer/filing/0000085535-25-000149","json":"https://secwatch.observer/filing/0000085535-25-000149.json","markdown":"https://secwatch.observer/filing/0000085535-25-000149.md","text":"https://secwatch.observer/filing/0000085535-25-000149.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/85535/000008553525000149/0000085535-25-000149-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/85535/000008553525000149/rgld-20251020.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T03:09:41.532284+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"21e39aa0a4767eb53b417c877bf895fbe27d88df","claim":"ROYAL GOLD INC completed an acquisition involving Sandstorm Gold Ltd. for 0.0625 of a share of common stock, par value $0.01 per share, of Royal Gold (closed 2025-10-20).","evidence_excerpt":"usly announced, on July 6, 2025, Royal Gold, Inc., a Delaware corporation (“Royal Gold”), and its wholly owned subsidiary International Royalty Corporation, a Canadian corporation (“IRC”), entered into an arrangement agreement (the “Sandstorm Agreement”) with Sandstorm Gold Ltd., a British Columbia corporation (“Sandstorm”), pursuant to which, on the terms and subject to the conditions set forth therein, Royal Gold agreed to acquire Sandstorm in an all-stock transaction, subject to satisfaction of certain closing conditions.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/85535/000008553525000149/0000085535-25-000149-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"Sandstorm Gold Ltd."},{"label":"Consideration","value":"0.0625 of a share of common stock, par value $0.01 per share, of Royal Gold"},{"label":"Closing","value":"2025-10-20"}],"fact_type":"ma_transaction"},{"claim_id":"2fce579b892fdc33d2a36b0860d93363f7cbb434","claim":"ROYAL GOLD INC completed an acquisition involving Horizon Copper Corp. for C$2.00 in cash (closed 2025-10-20).","evidence_excerpt":"Also on July 6, 2025, Royal Gold and IRC entered into an arrangement agreement (the “Horizon Agreement”) with Horizon Copper Corp., a British Columbia corporation (“Horizon”), pursuant to which, on the terms and subject to the conditions set forth therein, Royal Gold agreed to acquire Horizon in an all-cash transaction, subject to satisfaction of certain closing conditions.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/85535/000008553525000149/0000085535-25-000149-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"Horizon Copper Corp."},{"label":"Consideration","value":"C$2.00 in cash"},{"label":"Closing","value":"2025-10-20"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}