Net Asset Value Restatement for Simplify Tail Risk Strategy ETF (CYA)

Rhea-AI Summary

Simplify Asset Management Inc. has restated the net asset value (NAV) per share of the Simplify Tail Risk Strategy ETF (CYA) effective December 28, 2022. The revised NAV is $12.07, a decrease from the original NAV of $12.31, marking a drop of 1.98%. This adjustment was necessitated by a stale security price. Investors are advised to consider the risks involved in ETF investments, including potential loss of principal.

Positive

• None.

Negative

• NAV decreased from $12.31 to $12.07, a decline of 1.98%.
• The NAV adjustment reflects a stale security price, which may indicate underlying issues with asset pricing.

NEW YORK--(BUSINESS WIRE)-- Simplify Asset Management Inc. announces that the previously disclosed net asset value (NAV) per share of the Simplify Tail Risk Strategy ETF (NYSE Arca: CYA) on December 23, 2022, has been restated effective December 28, 2022, as follows:

ETF Name		Ticker (NYSE Arca)		Revised		Original		Adjustment
Simplify Tail Risk Strategy ETF		CYA		$12.07		$12.31		1.98%

The NAV adjustment is a result of a stale security price.

ABOUT SIMPLIFY ASSET MANAGEMENT INC

Simplify Asset Management Inc. is a Registered Investment Adviser founded in 2020 to help advisors tackle the most pressing portfolio challenges with an innovative set of options-based strategies. By accounting for real-world investor needs and market behavior, along with the non-linear power of options, our strategies allow for the tailored portfolio o utcomes for which clients are looking. For more information, visit www.simplify.us.

Investors should carefully consider the investment objectives, risks, charges and expenses of Exchange Traded Funds (ETFs) before investing. To obtain an ETF's prospectus containing this and other important information, please call (855) 772-8488, or visit SimplifyETFs.com. Please read the prospectus carefully before you invest. An investment in the fund involves risk, including possible loss of principal. Past performance does not guarantee future results.

The fund's investment objective is to seek capital appreciation. The funds are new and have a limited operating history.

The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. These risks include (i) the risk that the counterparty to a derivative transaction may not fulfill its contractual obligations; (ii) risk of mispricing or improper valuation; and (iii) the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. Derivative prices are highly volatile and may fluctuate substantially during a short period of time. The use of leverage by the Fund, such as borrowing money to purchase securities or the use of options, will cause the Fund to incur additional expenses and magnify the Fund’s gains or losses. The earnings and prospects of small and medium sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Small and medium sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and may have limited markets, product lines, or financial resources and lack management experience.

Simplify ETFs are distributed by Foreside Financial Services, LLC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221229005208/en/

Chris Sullivan

MacMillan Communications

(212) 473-4442

chris@macmillancom.com

Source: Simplify Asset Management Inc.

FAQ

What is the revised NAV for Simplify Tail Risk Strategy ETF (CYA)?

The revised NAV for the Simplify Tail Risk Strategy ETF (CYA) is $12.07.

Why was the NAV of CYA restated?

The NAV of CYA was restated due to a stale security price.

What was the original NAV for CYA before the adjustment?

The original NAV for CYA was $12.31.

What impact does the NAV decrease have on CYA investors?

The decline in NAV from $12.31 to $12.07 may affect investor returns and reflects underlying pricing issues.

When was the NAV adjustment effective for the Simplify Tail Risk Strategy ETF?

The NAV adjustment became effective on December 28, 2022.