CHICAGO and MILWAUKEE and NEW YORK, July 17, 2024 (GLOBE NEWSWIRE) -- 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.
