Defiance to close Net Gen Video Gaming ETF
Defiance ETFs is to close and liquidate the Defiance Next Gen Video Gaming ETF (VIDG) after the close of business on 27 December, 2019. Defiance ETFs recommended the liquidation and closure of the Fund after consideration of the Fund’s prospects for growth, among other factors.
The Fund’s last day of trading will be 26 December, 2019, which will also be the final day for creation unit orders by authorized participants. The Fund will begin liquidating its portfolio assets on or about December 2, 2019, which will cause the Fund to increase its cash holdings and deviate from the investment objective and strategies stated in the Fund’s prospectus. The Fund will conclude operations and distribute the remaining proceeds to shareholders promptly after 27 December, 2019.
Shareholders who do not sell their Fund shares by this date will have their shares automatically redeemed for cash based on the Fund’s net asset value (NAV). Customary brokerage charges may apply to transactions to sell Fund shares. Shareholders should contact their tax advisor to discuss the income tax consequences of the liquidation.