US Brent Oil Fund (BNO) Files 45.5M Unit Shelf Offering
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US Brent Oil Fund LP (NYSE: BNO) filed a registration with the U.S. SEC to sell, from time to time, up to 45.45 million Units.
The units may be purchased from USBO only in one or more blocks of 50,000 units as described in “Creation and Redemption of Units.” A block of 50,000 units is called a Basket. USBO issues and redeems Baskets called “creation baskets” or “redemption baskets”, as the case may be, from certain authorized purchasers as described in “Plan of Distribution.” The price of a creation baskets or a redemption basket is equal to the net asset value of 50,000 units on the day that the order to create the creation basket or redeem the redemption basket is accepted by the marketing agent.
The units may be purchased from USBO only in one or more blocks of 50,000 units as described in “Creation and Redemption of Units.” A block of 50,000 units is called a Basket. USBO issues and redeems Baskets called “creation baskets” or “redemption baskets”, as the case may be, from certain authorized purchasers as described in “Plan of Distribution.” The price of a creation baskets or a redemption basket is equal to the net asset value of 50,000 units on the day that the order to create the creation basket or redeem the redemption basket is accepted by the marketing agent.
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