Copper Place Global Capital, LLC Announces Liquidation of Copper Place Global Dividend Growth ETF

Rhea-AI Summary

Copper Place Global Capital, has announced the liquidation of the Copper Place Global Dividend Growth ETF (Ticker: GDVD). The Board of Trustees of Northern Lights Fund Trust IV authorized this decision on August 21, 2024, deeming it in the best interests of the Fund and its shareholders. Key dates include:

- August 28, 2024: Last trading day on NYSE Arca and final day for creation unit acceptance
- September 5, 2024: Expected liquidation date

Shareholders can sell holdings before the closing date, subject to brokerage charges. The Fund will increase cash holdings during liquidation, expecting to hold only cash by August 30, 2024. Remaining shareholders on the liquidation date will receive cash at the net asset value, including capital gains and dividends. This liquidation may have tax implications for shareholders.

Positive

• Shareholders will receive cash at the net asset value of their shares, including any capital gains and dividends
• The liquidation process allows shareholders to sell their holdings prior to the closing date

Negative

• The Copper Place Global Dividend Growth ETF (GDVD) is being liquidated and will cease operations
• The Fund has experienced difficulties obtaining shareholder approval for a proposed reorganization
• Shareholders may face options to sell shares between the closing date and liquidation date
• The liquidation may result in taxable events for shareholders

News Market Reaction – GDVD

-0.60%

-0.60% Session move

In the trading session that priced this news, GDVD declined 0.60%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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CLYDE HILL, Wash., Aug. 21, 2024 /PRNewswire/ -- The Board of Trustees of the Northern Lights Fund Trust IV (the "Board") has authorized an orderly liquidation of the Copper Place Global Dividend Growth ETF (Ticker: GDVD) (the "Fund"). On August 21, 2024, the Board determined that closing and liquidating the Fund was in the best interests of the Fund and its shareholders. 

The last day of trading of the Fund's shares on NYSE Arca will be August 28, 2024 ("Closing Date"), which will also be the last day the Fund will accept creation units from authorized participants. Shareholders may sell their holdings in the Fund prior to the Closing Date and customary brokerage charges may apply to these transactions. Authorized Participants may redeem baskets of shares for a pro rata portion of the Fund's portfolio on hand through the Closing Date. 

The Fund is expected to cease operations, liquidate its assets, and distribute the liquidation proceeds to shareholders on September 5, 2024 (the "Liquidation Date").

From the Closing Date through the Liquidation Date, 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 the Fund's shares during this time period. Between the Closing Date and the Liquidation Date, the Fund will be in the process of closing down and liquidating its portfolio. This process will result in the Fund increasing its cash holdings. The Fund expects to be holding only cash on or before August 30, 2024.

Shareholders remaining on the Liquidation Date will receive cash at the net asset value of their shares as of that date, which will include any capital gains and dividends as of such date. The liquidating cash distribution to shareholders will be treated as payment in exchange for their shares. The liquidation of the Fund's shares may be treated as a taxable event. Shareholders should contact their tax adviser to discuss the income tax consequences of the liquidation. Once the distributions are complete, the Fund will terminate.

The special meeting of the Fund's shareholders scheduled for August 30, 2024, at 10:00 a.m. ET, to vote on the proposed reorganization of the Fund into a newly created series of the 360 Funds will no longer take place.  The Fund has experienced difficulties with obtaining shareholder approval of the reorganization.  

Contact:
Copper Place Global Capital
855-601-0317
info@copperplacegc.com

Investors should consider the investment objective, risks, and charges and expenses of the Fund(s) before investing. The prospectus and the summary prospectus contains this and other information about the Fund(s) and should be read carefully before investing. The prospectus may be obtained at 855-601-0317 or https://CPGCETFs.com. Investing involves risk including loss of principal. Distributed by Northern Lights Distributors, LLC

View original content:https://www.prnewswire.com/news-releases/copper-place-global-capital-llc-announces-liquidation-of-copper-place-global-dividend-growth-etf-302228002.html

SOURCE Copper Place Global Capital, LLC

FAQ

When will the Copper Place Global Dividend Growth ETF (GDVD) stop trading?

The last day of trading for GDVD on NYSE Arca will be August 28, 2024, which is also the last day the Fund will accept creation units from authorized participants.

What happens to shareholders of GDVD after the liquidation?

Shareholders remaining on the liquidation date (September 5, 2024) will receive cash at the net asset value of their shares, including any capital gains and dividends as of that date.

Can GDVD shareholders sell their holdings before the liquidation?

Yes, shareholders can sell their holdings in GDVD prior to the closing date (August 28, 2024), subject to customary brokerage charges.

What are the tax implications of the GDVD liquidation for shareholders?

The liquidation of GDVD shares may be treated as a taxable event. Shareholders are advised to contact their tax advisers to discuss the income tax consequences of the liquidation.