Tidal Financial Group and CNIC Funds Announces the Closure of the CNIC ICE U.S. Carbon Neutral Power Futures Index ETF (NYSE: AMPD)
MILWAUKEE, Feb. 07, 2025 (GLOBE NEWSWIRE) -- Tidal Financial Group and CNIC Funds today announced the planned closure and liquidation of the CNIC ICE U.S. Carbon Neutral Power Futures Index ETF (NYSE: AMPD). The Board of Trustees of Tidal Trust II concluded that liquidating and closing the Fund would be in the best interest of the Fund and its shareholders.
The ETF will cease trading on the New York Stock Exchange (NYSE) at the close of regular trading on February 18, 2025 [Closing Date], and 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 be subject to customary brokerage fees. After the Closing Date, shareholders will be unable to buy or sell shares on an exchange and may only redeem shares through select broker-dealers, with no assurance of an active market during this period.
Between February 18, 2025 and February 20, 2025 [Liquidation Date], AMPD will begin liquidating its holdings, increasing its cash position in preparation for final distribution. As a result, the fund's investment holdings will deviate from its stated investment objectives.
On or around the Liquidation Date, AMPD will distribute its remaining net assets to shareholders of record who have not otherwise sold their shares prior to liquidation. This distribution will be made in cash on a pro rata basis and will generally be treated as a taxable event. Shareholders are encouraged to consult their tax advisers regarding potential implications related to capital gains, losses, or dividends associated with the liquidation.
Following these distributions, the fund will officially terminate.
About Tidal Financial Group
Formed by ETF industry pioneers and thought leaders, Tidal Investments LLC sets out to revolutionize the way ETFs have historically been developed, launched, marketed, and sold. With a focus on growing AUM, Tidal offers a comprehensive suite of services, proprietary tools, and methodologies designed to bring lasting ideas to market. Tidal is an advocate for ETF innovation. The firm is on a mission to provide issuers with the intelligence and tools needed to efficiently and to effectively launch ETFs and to optimize growth potential in a highly competitive space. For more information, visit https://www.tidalfinancialgroup.com/.
Contact Gavin Filmore at gfilmore@tidalfg.com for more information.Sign in to access your portfolio
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