Defiance Announces Fund Closure
Defiance ETFs has announced the immediate closure and liquidation of the Defiance Nasdaq Junior Biotechnology ETF (IBBJ), effective after the close of business on December 3, 2021. The decision follows a review of the Fund's growth prospects. The last trading day for the Fund will be December 2, 2021, with automatic cash redemptions for unsold shares post-liquidation. Shareholders are advised to consult tax advisors regarding potential income tax implications.
- None.
- Closure of IBBJ indicates poor growth prospects.
- Automatic cash redemption may lead to investor losses.
NEW YORK, Oct. 22, 2021 /PRNewswire/ -- Defiance ETFs announced today that the Board of Trustees of ETF Series Solutions (the "Trust") has determined to close and liquidate the Defiance Nasdaq Junior Biotechnology ETF (NASDAQ: IBBJ) (the "Fund") effective immediately after the close of business on December 3, 2021. Defiance ETFs recommended the liquidation and closure of the Fund after consideration of the Fund's prospects for growth, among other factors.
The Fund's last day of trading will be December 2, 2021, which will also be the final day for creation unit orders by authorized participants. The Fund will conclude operations and distribute the remaining proceeds to shareholders promptly after December 3, 2021. Shareholders who do not sell their Fund shares by this date will have their shares automatically redeemed for cash based on the Fund's net asset value (NAV). Customary brokerage charges may apply to transactions to sell Fund shares. Shareholders should contact their tax advisor to discuss the income tax consequences of the liquidation.
For additional information, please call 1-833-333-9383.
The Fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. The prospectus can be obtained by calling 1-833-333-9383 Please read it carefully before investing.
Investing involves risk. Principal loss is possible.
A commission may apply when buying or selling an ETF.
Defiance ETFs are distributed by Foreside Fund Services, LLC.
Contact:
Defiance ETFs
1-833-333-939
info@defianceetfs.com
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SOURCE Defiance ETFs
FAQ
What is the status of the Defiance Nasdaq Junior Biotechnology ETF (IBBJ)?
When is the last trading day for IBBJ?
What happens to IBBJ shares after the liquidation date?
What should shareholders of IBBJ do before the closure?
