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Robinson Alternative Yield Pre-Merger SPAC ETF (SPAX) to Close

1. SPAX will close and liquidate by April 7, 2025. 2. No new purchase orders will be accepted post-closure date. 3. Shareholders must consider tax implications of cash distributions. 4. SPAX's portfolio will deviate from its investment objectives during liquidation. 5. Liquidation is deemed in the best interest of fund shareholders.

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FAQ

Why Very Bearish?

The liquidation signals a fundamental failure, similar to past ETF closures that caused significant drops in stakeholder value.

How important is it?

The closure and liquidation process directly disrupt SPAX's operations and shareholder value significantly.

Why Short Term?

The closure's immediate effects will be felt as shareholders rush to liquidate their positions.

Related Companies

SPACETFsTidal Financial GroupRobinson Capital Management
NEW YORK, March 21, 2025 (GLOBE NEWSWIRE) -- Tidal Financial Group and Robinson Capital Management, LLC announce the closure and liquidation of the Robinson Alternative Yield Pre-Merger SPAC ETF (NYSE Arca: SPAX). This decision follows a thorough evaluation and was determined to be in the best interests of the fund and its shareholders. The ETF will cease trading on NYSE Arca at the close of regular trading on April 7, 2025 (the “Closing Date”). It will no longer accept purchase orders as of that date. Shareholders may sell their holdings in the fund prior to the Closing Date through standard brokerage transactions, which may incur customary brokerage charges. After April 7, 2025, shareholders may only sell shares to select broker-dealers, with no assurance of an active market during this period. Between April 7, 2025 and April 11, 2025 (the “Liquidation Date”), SPAX will liquidate its portfolio, increasing its cash holdings, which will result in portfolio holdings deviating from the fund's stated investment objectives. On or around the Liquidation Date, SPAX will distribute its remaining assets as cash pro rata to shareholders of record who have not sold or redeemed their shares. This distribution will generally be treated as a taxable event, and shareholders should consult their tax advisers to understand the implications of capital gains or losses. Additionally, the liquidation may include accrued capital gains and dividends. After these distributions, the fund will officially terminate. About Tidal Financial Group Formed by ETF industry pioneers and thought leaders, Tidal Investments LLC is dedicated to revolutionizing ETF development, launch, marketing, and sales. With a focus on growing AUM, Tidal provides a comprehensive suite of services, proprietary tools, and methodologies designed to bring lasting investment ideas to market. Tidal is committed to ETF innovation, equipping issuers with the intelligence and tools needed to efficiently launch ETFs and optimize growth potential in a highly competitive space. For more information, visit https://www.tidalfinancialgroup.com.

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