Closure for Euclid Capital Growth ETF (EUCG)
14 Juli 2022 - 11:00PM
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 SERVICESFormed
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.
MEDIA CONTACT
Eric Falkeis
ericf@tidaletfservices.com
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