Hennessy Advisors Inc to acquire two ETFs from STF Management
Hennessy Advisors announced that it has signed a definitive agreement with STF Management to significantly expand its ETF offerings. This strategic move involves purchasing the assets of two ETFs and bringing them under the Hennessy umbrella: the STF Tactical Growth ETF and the STF Tactical Growth & Income ETF, with combined assets of approximately $220M. The transaction is expected to close in the third quarter of 2025. Upon completion of the transaction: The STFM ETFs will be reorganized as a series of Hennessy Funds Trust. The funds will be renamed the Hennessy Tactical Growth ETF and the Hennessy Tactical Growth and Income ETF. Hennessy Advisors will become the investment advisor to both funds. The transaction is subject to customary closing conditions, including approval from the SEC, the Hennessy Funds Trust Board of Trustees, the Listed Funds Trust Board of Trustees, and the STFM ETFs' shareholders. The transaction has been structured with the intention of qualifying as a tax-free reorganization under the Internal Revenue Code of 1986, as amended. Consequently, shareholders of the STFM ETFs should not recognize any gain or loss for federal income tax purposes as a result of the transaction.
