The Defiance Treasury Alternative Yield ETF (TRES) to Close
17 Julio 2024 - 3:37PM
Tidal ETF Trust’s Board of Trustees has made the decision to
liquidate and close the Defiance Treasury Alternative Yield ETF
(the “Fund”). The decision was reached in the best interest of the
Fund and its shareholders.
Trading of the Fund on the NASDAQ will cease,
and the Fund will no longer accept investor purchases after the
close of regular trading on July 26, 2024 (the “Closing Date”).
Shareholders have the option to sell their holdings in the Fund
before the Closing Date, with standard brokerage fees
applicable.
Shareholders may sell their holdings in the Fund
prior to the Closing Date and customary brokerage charges may apply
to these transactions. However, from July 27, 2024 through July 31,
2024 (the “Liquidation Date”), shareholders may be able to sell
their shares only to certain broker-dealers and there is no
assurance that there will be a market for the Fund’s shares during
this time period. Between the Closing Date and the Liquidation
Date, the Fund will be in the process of closing down and
liquidating the Fund’s portfolio. This process will result in the
Fund increasing its cash holdings and, as a consequence, its
portfolio holdings will be inconsistent with the Fund’s investment
objective and strategy.
On or about the Liquidation Date, the Fund will
liquidate its assets and distribute cash pro rata to all
shareholders of record who have not previously redeemed or sold
their shares, subject to any required withholding. Liquidation
proceeds paid to shareholders generally should be treated as
received in exchange for shares and will therefore be treated as a
taxable event giving rise to a capital gain or loss depending on a
shareholder’s tax basis. Shareholders should contact their tax
adviser to discuss the income tax consequences of the liquidation.
In addition, these payments to shareholders may include
distributions of accrued capital gains and dividends. As calculated
on the Liquidation Date, the Fund’s net asset value will reflect
the costs of closing the Fund. Once the distributions are complete,
the Fund will terminate.
About Tidal Financial Group
Formed by ETF industry pioneers and thought
leaders, Tidal Financial Group sets out to revolutionize the way
ETFs have historically been developed, launched, marketed, and
sold. With a focus on growing AUM, Tidal offers a comprehensive
suite of services, proprietary tools, and methodologies designed to
bring lasting ideas to market. Tidal is an advocate for ETF
innovation. The firm is on a mission to provide issuers with the
intelligence and tools needed to efficiently and to effectively
launch ETFs and to optimize growth potential in a highly
competitive space. For more information,
visit https://www.tidalfinancialgroup.com/.
About Defiance ETFs
Founded in 2018, Defiance stands as a leading ETF sponsor
dedicated to income and thematic investing. Our actively managed
options ETFs are designed to enhance income while our suite of
first-mover thematic ETFs empower investors to express targeted
views on dynamic sectors leading the way in disruptive innovations,
including artificial intelligence, machine learning, quantum
computing, 5G, and hydrogen energy.
Disclosure
The Funds’ investment objectives, risks, charges, and
expenses must be considered carefully before investing.
The prospectus contains this
and other important information about the investment company.
Please read carefully before investing. A hard copy of the
prospectus can be requested by calling 833.333.9383.
Investing involves risk. Principal loss is possible.
TRES is distributed by Foreside Fund Services, LLC.
Contact Gavin Filmore at gfilmore@tidalfg.com for more information.