Empowered Funds LLC Announces Amended Liquidation Date for ETFs

Two Sophus Capital ETFs under Empowered Funds will liquidate in October 2026, with final trading days set the day before each liquidation.

Rhea-AI Summary

Empowered Funds LLC is amending the liquidation plans for the Sophus Capital ETFs with tickers EMEM and EMSC.

The fund with ticker EMEM is scheduled to liquidate on or about October 14, 2026, with trading ceasing after the close on October 13, 2026. The fund with ticker EMSC is scheduled to liquidate on or about October 28, 2026, with trading ceasing after the close on October 27, 2026. Creation and redemption orders will not be accepted after each fund’s final trading day. After the applicable liquidation date, each fund will distribute cash pro rata to shareholders of record, treatable as a taxable event, and then terminate.

Positive

• None.

Negative

• EMEM liquidation on or about October 14, 2026; trading ends October 13
• EMSC liquidation on or about October 28, 2026; trading ends October 27
• Shareholders may face limited market liquidity before each liquidation date
• Liquidation distributions treated as taxable events for shareholders
• Funds’ portfolios may no longer follow stated objectives before liquidation and may hold more cash
• Each fund’s NAV on liquidation date will reflect closing costs, reducing proceeds

News Explained

Before liquidation, resale access may narrow, funds may hold more cash, and closing costs and taxable distributions may affect shareholder proceeds.

The amended plan remains pending: before the scheduled liquidations, shareholders may be able to sell only to certain broker-dealers, with no assurance of a market for the shares.

Until each liquidation date, a fund may hold more cash or invest inconsistently with its stated investment objective and strategies.

On the liquidation date, net asset value will reflect any closing costs, and the cash distribution may include accrued capital gains and dividends. The distributions generally will be treated as exchanges for shares, creating a capital gain or loss based on a shareholder’s tax basis, and may be subject to withholding.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEWTOWN SQUARE, Pa., Sept. 18, 2026 /PRNewswire/ -- Empowered Funds, LLC today announced an amendment to the liquidation plan for the following ETFs (the Funds):

• Sophus Capital Emerging Market ETF (Nasdaq: EMEM)
• Sophus Capital Emerging Market Small Cap ETF (Nasdaq: EMSC)

Sophus Capital Emerging Market Small Cap ETF (Nasdaq: EMEM) is now scheduled to liquidate on or about October 14, 2026 (the Liquidation Date). The Fund will cease trading on the Nasdaq Stock Market LLC and will be closed to purchase by investors immediately after the close of regular trading on October 13, 2026. The Fund will not accept creation or redemption orders after October 13, 2026.

Sophus Capital Emerging Market Small Cap ETF (Nasdaq: EMSC) is now scheduled to liquidate on or about October 28, 2026 (the Liquidation Date). The Fund will cease trading on the Nasdaq Stock Market LLC and will be closed to purchase by investors immediately after the close of regular trading on October 27, 2026. The Fund will not accept creation or redemption orders after October 27, 2026.

Shareholders may sell their holdings in a Fund prior to the applicable Liquidation Date, and customary brokerage charges will apply to these transactions. However, shareholders may only be able to sell their shares to certain broker-dealers, and there is no assurance that there will be a market for a Fund's shares during this period. During the period up to the applicable Liquidation Date, all or a portion of each Fund may not be invested in a manner consistent with its stated investment objective and strategies, and each Fund may increase its cash holdings.

Promptly after the applicable Liquidation Date, each Fund will distribute cash pro rata to all shareholders of record as of the applicable Liquidation Date, subject to any required withholding. Liquidation proceeds paid to shareholders generally should 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 a shareholder's tax basis. Shareholders should contact their tax advisor to discuss the tax consequences of the liquidation. In addition, these payments to shareholders may include distributions of accrued capital gains and dividends. As calculated on the applicable Liquidation Date, each Fund's net asset value will reflect the costs of closing the applicable Fund, if any. Once the distributions are complete, each Fund will terminate.

Important Information

Investing involves risk, including possible loss of principal.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call 1.215.330.4476 or visit our website at https://sophus-capital-etfs.com. Read the prospectus or summary prospectus carefully before investing.

The Funds are distributed by PINE Distributors LLC. The Funds' investment adviser is Empowered Funds, LLC, doing business as ETF Architect. The Funds' sponsor is Sophus Capital LLC, pursuant to a fund sponsorship agreement with ETF Architect. The Funds' sub-adviser is Consilium Investment Management, LLC, doing business as Sophus Capital. PINE Distributors LLC is not affiliated with ETF Architect, Sophus Capital LLC or Consilium Investment Management, LLC.

ETFAC-5936213-09/26

Jamie Richards
jamie@etfarchitect.org

View original content:https://www.prnewswire.com/news-releases/empowered-funds-llc-announces-amended-liquidation-date-for-etfs-302882650.html

SOURCE ETF Architect

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When is the last day investors can trade shares of the EMEM ETF?

The fund with ticker EMEM will cease trading on the Nasdaq Stock Market immediately after the close of regular trading on October 13, 2026. After that, it will be closed to additional purchases, and it will not accept creation or redemption orders.

When is the last day investors can trade shares of the EMSC ETF?

The fund with ticker EMSC will cease trading on the Nasdaq Stock Market immediately after the close of regular trading on October 27, 2026. After that, it will be closed to additional purchases, and it will not accept creation or redemption orders.

What happens to shareholders who still hold ETF shares on the liquidation date?

Promptly after the applicable Liquidation Date, each fund will distribute cash pro rata to all shareholders of record as of that date, subject to any required withholding. Once all distributions are complete, each fund will terminate.

How might the ETFs’ portfolios change before liquidation?

During the period up to the applicable liquidation date, all or a portion of each fund may not be invested in line with its stated investment objective and strategies, and each fund may increase its cash holdings.

How are the liquidation proceeds and any related taxes treated for shareholders?

Liquidation proceeds paid to shareholders generally should be treated as received in exchange for shares and therefore treated as a taxable event that may result in a capital gain or loss, depending on a shareholder’s tax basis. Payments may also include distributions of accrued capital gains and dividends. Shareholders are advised to consult their tax advisor about the tax consequences.

How will fund closure costs affect investor payouts?

As calculated on the applicable liquidation date, each fund’s net asset value (NAV) will reflect the costs of closing the fund, if any. These costs will be incorporated into NAV and therefore into the liquidation proceeds paid to shareholders.

Where can investors obtain more information about these funds before liquidation?

Investors can request a prospectus or summary prospectus, which includes information about investment objectives, risks, charges and expenses, by calling 1.215.330.4476 or visiting https://sophus-capital-etfs.com. The company advises reading the prospectus or summary prospectus carefully before investing.