Defiance ETFs Fund Closure
07 4월 2023 - 5:30AM
Business Wire
The Board of Trustees of ETF Series Solutions, upon a
recommendation from Defiance ETFs, LLC, the investment adviser to
The Defiance Daily Short Digitizing the Economy ETF (IBIT), has
determined to close and liquidate the Fund immediately after the
close of business on April 28, 2023. Shares of the Fund are listed
on The Nasdaq Stock Market LLC.
Effective on or about April 17, 2023, the Fund will begin
liquidating its portfolio assets. This will cause the Fund to
increase its cash holdings and deviate from the investment
objective and strategies stated in the Fund’s prospectus.
The Fund will no longer accept orders for new creation units
after the close of business on the business day prior to the
Liquidation Date, and trading in shares of the Fund will be halted
prior to market open on the Liquidation Date. Prior to the
Liquidation Date, shareholders may only be able to sell their
shares to certain broker-dealers, and there is no assurance that
there will be a market for the Fund’s shares during that time
period. Customary brokerage charges may apply to such
transactions.
On or about the Liquidation Date, the Fund will liquidate its
assets and distribute cash pro rata to all remaining shareholders.
These distributions are taxable events. Shareholders should contact
their tax advisor to discuss the income tax consequences of the
liquidation. In addition, these payments to shareholders will
include accrued capital gains and dividends, if any. As calculated
on the Liquidation Date, the Fund’s net asset value will reflect
the costs of closing the Fund, if any. Once the distributions are
complete, the Fund will terminate. Proceeds of the liquidation will
be sent to shareholders promptly after the Liquidation Date.
For additional information, please call 1-833-333-9383.
The Fund's investment objectives, risks, charges, and expenses
must be considered carefully before investing. The prospectus and
summary prospectus contain this and other important information
about the investment company. The prospectus can be obtained by
calling 1-833-333-9383 Please read it carefully before
investing.
Investing involves risk. Principal loss is possible.
A commission may apply when buying or selling an ETF.
Defiance ETFs are distributed by Foreside Fund Services,
LLC.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230406005083/en/
Frank Taylor (646) 808-3647 defiance@dlpr.com
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