CIBC announces changes to the CIBC Atlas Clean Energy Index

Rhea-AI Summary

CIBC announced changes to the CIBC Atlas Clean Energy Index effective after June 18, 2021. The rebalance will add five constituents: ChargePoint Holdings Inc (CHPT), Shoals Technologies Group, Inc (SHLS), Romeo Power Inc (RMO), XL Fleet Corp (XL), and Rex American Resources Corp (REX). No constituents are being removed from the Index. These changes are not indicative of any investment recommendation from CIBC US Private Wealth Management. CIBC continues to serve clients in North America and globally with banking and wealth management services.

Positive

• Addition of prominent clean energy companies to the index may bolster investor interest.
• No removals from the index, indicating stability in existing constituents.

Negative

• None.

DENVER, June 14, 2021 /PRNewswire/ - CIBC today announced that the CIBC Atlas Clean Energy Index (the "Index") rebalance following close of business on June 18, 2021, will result in changes to the Index as follows:

Constituents to be added:

• ChargePoint Holdings Inc (Ticker: CHPT)
• Shoals Technologies Group, Inc (Ticker: SHLS)
• Romeo Power Inc (Ticker: RMO)
• XL Fleet Corp (Ticker: XL)
• Rex American Resources Corp (Ticker: REX)

Constituents to be removed:

• None

Constituent additions to and deletions from the Index do not reflect an opinion by CIBC US Private Wealth Management on the investment merits of the respective securities. For further information, please contact CIBC US Private Wealth Management at 720.221.5000.

About CIBC

CIBC (NYSE: CM) (TSX: CM) is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the US, CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC U.S. Private Wealth Management offers investment management, wealth strategies and legacy planning. Visit us at cibc.com/US.

Private banking solutions are offered through CIBC Bank USA, Member FDIC and Equal Housing Lender. CIBC Bank USA and CIBC Private Wealth Group, LLC are both indirect, wholly owned subsidiaries of CIBC. CIBC Private Wealth Group and its subsidiaries do not provide, and are not responsible for, the products and services offered by CIBC Bank USA. CIBC Bank USA (Bank) will not pay employees of CIBC Private Wealth Group or its subsidiaries for referring clients to Bank, but to the extent permitted by applicable laws and regulations, the referral of clients to Bank for eligible products or services may be considered by CIBC Private Wealth Group in determining discretionary compensation to employees.  The CIBC logo is a registered trademark of CIBC, used under license. Investment Products Offered are Not FDIC-Insured, May Lose Value and are Not Bank Guaranteed.

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SOURCE Canadian Imperial Bank of Commerce

FAQ

What changes are being made to the CIBC Atlas Clean Energy Index?

The CIBC Atlas Clean Energy Index will add five constituents: ChargePoint Holdings Inc (CHPT), Shoals Technologies Group, Inc (SHLS), Romeo Power Inc (RMO), XL Fleet Corp (XL), and Rex American Resources Corp (REX), with no removals.

When will the changes to the CIBC Atlas Clean Energy Index take effect?

The changes to the CIBC Atlas Clean Energy Index will take effect after the close of business on June 18, 2021.

Does the addition to the CIBC Atlas Clean Energy Index reflect an investment opinion by CIBC?

No, the addition of constituents to the index does not reflect an investment opinion by CIBC US Private Wealth Management.