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Philadelphia, December 20, 2022 /PRNewswire/ — The Board of Trustees (the “Board”) of Empowered Funds, LLC, dba EA Advisers, has approved the proposed Viridi Charter for the EA Series Trust (the “Trust”). Bitcoin Miners ETF (“RIGZ” or “the Fund”), a series of Trusts. After careful consideration of a number of factors, including the adverse macroeconomic climate that has had a significant impact on key constituents and the ETF’s ability to deliver on its mission, the Board has concluded that it is in the best interest of the Fund and its shareholders. liquidation of the fund. Any shareholders will receive a cash distribution equal to the net asset value (NAV) of the shares they hold at the time of liquidation of the fund’s shares.
RIGZ on NYSE Arca, Inc. (“NYSE”) ceases trading and is closed for purchase by investors at the close of regular trading. January 4, 2023 (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 customary brokerage fees will apply to such transactions. However, from January 4, 2023 Through January 11, 2023 (the “Liquidation Date”), shareholders may sell their shares only to certain broker-dealers, and there is no assurance that there will be a market for the Fund’s shares during this period. Between the Closing Date and the Liquidation Date, the Fund will be in the process of closing and liquidating the Fund’s portfolio. This process causes the Fund to increase its cash holdings, 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 make pro rata cash distributions to all shareholders of record who have not previously purchased or sold their shares. Generally, cash payments to shareholders must be treated as received in exchange for shares and are therefore treated as a taxable event giving rise to capital gains or losses as per the shareholders’ tax basis. Shareholders should contact their tax advisor to discuss the outcome of their income tax audit. In addition, these payments to shareholders may include accumulated capital gains and dividends. The fund’s net asset value as calculated on the liquidation date reflects the fund’s closing costs. Once the distribution is complete, the fund will be terminated.
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Investors should carefully consider the investment objectives, risks, fees and expenses before investing. For a prospectus or summary prospectus here and other information about the Fund, please call 1.215.882.9983 or visit our website at https://viridifunds.com. Read the prospectus or summary carefully before investing.
The fund is distributed by Quasar Distributors, LLC.
See original content: https://www.prnewswire.com/news-releases/viridi-funds-announces-etf-liquidation-de-listing-301706637.html
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