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CHICAGO and MILWAUKEE and NEW YORK, July 13. 11, 2022 (GLOBE NEWSWIRE) — The Tidal ETF Trust’s Board of Directors has decided to liquidate and close SonicShares Airlines, Hotels, Cruise Lines ETF (TRYP) (the “Fund”), based on the recommendation of the investment fund, Toroso Investments LLC. Accordingly, the Board has concluded that the liquidation and closure of the Fund would be in the best interest of the Fund and its shareholders.

The shares of the Fund will cease trading on the NYSE Arca, Inc. (“NYSE”) and will be closed for purchase by investors upon the close of regular trading on the NYSE on July 22, 2022 (the “Closing Date”). “). The Fund will not accept purchase orders after the closing date.

Shareholders may sell their holdings in the Fund prior to the Closing Date and normal brokerage charges may apply to such transactions. However, from July 22, 2022 to July 29, 2022 (the “Liquidation Date”), shareholders may only be able to sell their shares to certain brokers and there can be no assurance that there will be a market for the shares of the Fund during that period. period. Between the Closing Date and the Liquidation Date, the Fund will be in the process of closing and liquidating the Fund Portfolio. This process will result in the Fund increasing its cash holdings and therefore not tracking its underlying index, which is inconsistent with the Fund’s investment objective and strategy.

On or about the date of liquidation, the Fund will liquidate its assets and distribute cash on a pro rata basis to all registered shareholders who have not already redeemed or sold their shares, subject to any required withholding taxes. Liquidation proceeds paid to shareholders should generally be treated as received in exchange for shares and will therefore be treated as a taxable event giving rise to a capital gain or loss depending on the shareholder’s tax base. Shareholders should contact their tax adviser to discuss the tax consequences of liquidation. In addition, these payments to shareholders may include distributions of accrued capital gains and dividends. Once the distributions have been completed, the Fund will be dissolved.

ABOUT TIDAL ETF SERVICESFormed by ETF industry pioneers and thought leaders, Tidal ETF Services LLC aims 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 sustainable ideas to market. Tidal is an advocate for ETF innovation. The company’s mission is to provide issuers with the information and tools necessary to efficiently and effectively launch ETFs and maximize growth potential in a highly competitive space. For more information, visit tidaletfservices.com.

IMPORTANT INFORMATION

Before investing, you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information can be found in the prospectus. A prospectus can be obtained by calling (833) 378-0717 or by visiting https://www.sonicshares.com/tryp/. Please read the prospectus carefully before investing.

Investing involves risk and there is no capital guarantee.

The fund is distributed by Foreside Fund Services, LLC.

MEDIA CONTACT
Eric Falkeis
[email protected]

Source: Tidal ETF Services