Tidal Financial Group Announces Reverse Stock Split for SMCX ETF

Tidal Financial Group has announced a reverse stock split for the Defiance Daily Target 2X Long SMCI ETF (SMCX), effective after the Nasdaq market close on November 8, 2024. The split will be executed at a 1-for-20 ratio, significantly reducing the number of outstanding shares by approximately 95%. Consequently, the per-share net asset value (NAV) and opening market price will increase by about twenty times their pre-split values. Trading on a split-adjusted basis will commence on November 11, 2024.

The reverse split aims to simplify SMCX's share structure and broaden investor accessibility. Importantly, the total market value of shareholders' investments will remain unchanged. For example, a shareholder with 500 shares at a NAV of $10 will hold 25 shares post-split, with the NAV adjusted to $200 per share, maintaining the same total investment value of $5,000.

The Trust's transfer agent will collaborate with the Depository Trust Company (DTC) to update shareholder records. Shareholders may receive cash compensation for any fractional shares, which could have tax implications. Shareholders are encouraged to consult their tax advisors for guidance. There will be no transaction fee for redeeming fractional shares.

The Defiance Daily Target 2X Long SMCI ETF is designed to achieve daily leveraged investment results of 200% of the daily percentage change in the share price of Super Micro Computer, Inc. (SMCI). This fund is suitable for experienced investors who understand the risks of leveraged investments and are willing to monitor their portfolios closely. The fund's investment objectives, risks, charges, and expenses should be reviewed carefully before investing.