ROCKY MOUNT, N.C.--(BUSINESS WIRE)--Effective as of the close of business on December 13, 2018, the Fieldstone Merlin Dynamic Large Cap Growth ETF (the “Fund”) will no longer accept orders for the purchase of creation units. Beginning when the Fund commences the liquidation of its portfolio, the Fund may not pursue its investment objective or, with certain exceptions, engage in normal business activities, and may hold cash and securities that may not be consistent with its investment objective and strategy.
The Fund's last full day of trading on NYSE Arca, Inc. will be December 13, 2018, and it will be liquidated on or about December 28, 2018 (the "liquidation date"). NYSE Arca is expected to halt trading in shares of the Fund after the market closes on December 13, 2018. There can be no assurance that there will be a market for the purchase or sale of Fund shares during the time between the market closing on December 13, 2018 and the liquidation date, because Fund shares will not be traded on NYSE Arca. Shareholders of the Fund may sell their shares on NYSE Arca until the market closes on December 13, 2018 and may incur customary transaction fees from their broker-dealer in connection with such sales. Prior to the liquidation of the Fund, authorized participants may continue to submit orders to the Fund for the redemption of creation units.
In connection with the liquidation, any shares of the Fund outstanding on the liquidation date will be automatically redeemed as of the close of business on the liquidation date without the imposition of customary redemption transaction fees. The proceeds of any such redemption will be equal to the net asset value of such shares after the Fund has paid or provided for all of its charges, taxes, expenses and liabilities, including certain operational costs of liquidating the Fund. The distribution to shareholders of these liquidation proceeds will occur as soon as practicable and will be made to all Fund shareholders at the time of the liquidations.
Although the liquidation is not expected to be a taxable event for the Fund, for taxable shareholders, the automatic redemption of shares of the Fund on the liquidation date will generally be treated as a sale that may result in a gain or loss for federal income tax purposes. Please consult your personal tax advisor about the potential tax consequences.
For additional information about the liquidation, shareholders of the Fund may call 1-800-773-3863.
IMPORTANT NOTES ABOUT PERFORMANCE AND RISK
Past performance is no guarantee of future results. As with other investments, market price will fluctuate with the market and upon sale, your shares may have a market price that is above or below net asset value and may be worth more or less than your original investment.
If you would like additional information, call 1-800-773-3863.
An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available at www.ncfunds.com or by calling Shareholder Services at 1-800-773-3863. The prospectus should be read carefully before investing.
An investment in the Fund is subject to investment risks, including the possible loss of some or the entire principal amount invested. There can be no assurance that the Fund will be successful in meeting its investment objective. While the shares of the Fund are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress. ETFs trade like list stocks, are subject to investment risks, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns. More information about these risks can be found in the Fund’s prospectus.
The Fieldstone Merlin Dynamic Large Cap Growth ETF is distributed by Capital Investment Group, Inc., Member FINRA/SIPC, 100 E. Six Forks Road, Suite 200, Raleigh, NC 27609. There is no affiliation between Universal Value Advisors, including its principals, and Capital Investment Group, Inc.
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