Simplify Announces Four ETF Closures
April 13 2023 - 9:00AM
Business Wire
The Board of Trustees (the “Board”) of Simplify Exchange Traded
Funds (the “Trust”) has determined that it is in the best interests
of shareholders to liquidate the Simplify Nasdaq 100 PLUS Downside
Convexity ETF (QQD) and Simplify Nasdaq 100 PLUS Convexity ETF
(QQC) and Simplify US Small Cap PLUS Downside Convexity ETF (RTYD),
and Simplify Volt Cloud and Cybersecurity Disruption ETF (VCLO)
(each, a “Fund” and together the “Funds”), each a series of the
Trust, following a recommendation by each Fund’s investment
adviser, Simplify Asset Management Inc. and, solely with respect to
Simplify Volt Cloud and Cybersecurity Disruption ETF, its
investment sub-adviser, Volt Equity LLC.
The Board has determined to liquidate the Funds with the
liquidation payment to their respective shareholders expected to
take place on or about May 5, 2023 (“Liquidation Date”). After the
close of business on April 28, 2023, the Funds will no longer
accept creation orders. The last day of trading in Simplify US
Small Cap PLUS Downside Convexity ETF and Simplify Volt Cloud and
Cybersecurity Disruption ETF on the NYSE Arca, Inc. will be April
28, 2023. The last day of trading in Simplify Nasdaq 100 PLUS
Convexity ETF and Simplify Nasdaq 100 PLUS Downside Convexity ETF
on The Nasdaq Stock Market LLC will be April 28, 2023. Shareholders
who do not sell their shares of a Fund before market close on April
28, 2023 will receive cash equal to the amount of the net asset
value of their shares in their brokerage accounts, on or about the
Liquidation Date. As calculated on the Liquidation Date, each
Fund’s net asset value will reflect any costs of closing the Fund.
Once the distributions are complete, the Funds will terminate.
ABOUT SIMPLIFY ASSET MANAGEMENT INC
Simplify Asset Management Inc. is a Registered Investment
Adviser founded in 2020 to help advisors tackle the most pressing
portfolio challenges with an innovative set of options-based
strategies. By accounting for real-world investor needs and market
behavior, along with the non-linear power of options, our
strategies allow for the tailored portfolio outcomes for which
clients are looking. For more information, visit
www.simplify.us.
Investors should carefully consider the investment objectives,
risks, charges, and expenses of Exchange Traded Funds (ETFs) before
investing. To obtain an ETF's prospectus containing this and other
important information, please call (855) 772-8488, or visit
SimplifyETFs.com. Please read the prospectus carefully before you
invest.
Simplify ETFs are distributed by Foreside Financial Services,
LLC.
© 2023 Simplify ETFs. All rights reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20230413005304/en/
MEDIA: Chris Sullivan Craft & Capital (212) 473-4442
chris@craftandcapital.com
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