CHICAGO, MILWAUKEE and NEW YORK, July 14, 2022 (GLOBE NEWSWIRE) -- The Board of Trustees of the Tidal ETF Trust has decided to liquidate and close the EUCLID CAPITAL GROWTH ETF (EUCG) (the “Fund”), based on the recommendation of the Fund’s investment adviser, Toroso Investments LLC. As a result, the Board concluded that liquidating and closing the Fund would be in the best interest of the Fund and its shareholders.
Shares of the Fund will cease trading on the Cboe BZX Exchange, Inc. (“Cboe”) and will be closed to purchase by investors as of the close of regular trading on the Cboe on July 28, 2022 (the “Closing Date”). The Fund will not accept purchase orders after the Closing Date.
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 28, 2022 through August 4, 2022 (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, the Fund will cease investing its assets in accordance with its investment objective and strategies.
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. Once the distributions are complete, the Fund will terminate.
ABOUT TIDAL ETF SERVICES
Formed by ETF industry pioneers and thought leaders, Tidal ETF Services LLC 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 tidaletfservices.com.
IMPORTANT INFORMATION
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. A prospectus may be obtained by calling (833) 378-0717 or by visiting https://www.euclidetfs.com/ Please read the prospectus carefully before you invest.
Investing involves risk and there is no guarantee of principal.
Fund distributed by Foreside Fund Services.
