CHICAGO and MILWAUKEE and NEW YORK, July 17, 2024 (GLOBE NEWSWIRE) — Tidal Financial Group announced today that the Board of Trustees of Tidal Trust II has approved a one-for-three (1-for-3) reverse split of the Defiance QQQY, JEPY, and IWMY ETFs.
| Defiance ETF Name | Ticker | Reverse Split Ratio | Old CUSIP | New CUSIP |
| The Nasdaq 100 Enhanced Options Income ETF | QQQY | 1:3 | 88636J840 | 88636J154 |
| The S&P 500 Enhanced Options Income ETF | JEPY | 1:3 | 88636J832 | 88636J147 |
| The R2000 Enhanced Options Income ETF | IWMY | 1:3 | 88636J824 | 88636J139 |
FAQs about Reverse Split
- What is a reverse split of an ETF?
A reverse split of an ETF is a type of corporate action that reduces the number of outstanding shares of the ETF while proportionately increasing the ETF’s net asset value (“NAV”). - What is the timing and effective date of the reverse split?The reverse split will become effective prior to market open on August 1, 2024. After this date, the ETFs will trade at their adjusted post-split prices. The total market value of the ETF shares outstanding will not be affected as a result of this reverse split, except with respect to the redemption of fractional shares, as discussed below.
- Will a reverse split affect the value of shareholder’s investment portfolio?No, a reverse split does not alter the total value of a shareholder’s investment portfolio. Shareholders will receive new shares in proportion to their existing holdings.
- Will the performance of the ETFs be impacted by the reverse split?The performance of the ETFs is based on their underlying portfolio holdings and is not affected by the reverse split.
- What are fractional shares?Shareholders holding fractional shares as a result of the reverse split may receive cash in lieu of those fractional shares, which could be a taxable event.
- Is shareholder approval required for a reverse split?No.
- Will a reverse split result in a ticker change?No.
An investor should carefully consider the investment objectives, risks, fees and other expenses carefully before investing. A prospectus or summary prospectus and other information about the Fund can be obtained by going to Defiance ETFs: ETFs Built For The Next Generation, Read the prospectus or summary prospectus carefully before investing.
All investments are subject to risks, including the loss of money and the possible loss of the entire principal amount invested.
Past performance is not a guarantee or indicative of future investment results.
Distributed by Foreside Fund Services, LLC.
CONTACT: Contact Gavin Filmore at gfilmore@tidalfg.com for more information.
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