GraniteShares Announces Forward Split of NVDL and FBL

StreetInsider03-08

NEW YORK, Feb. 28, 2024 (GLOBE NEWSWIRE) -- GraniteShares has announced it will execute forward share splits for two of its ETFs. The total market value of the shares outstanding will not be affected ...

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The total market value of the shares outstanding will not be affected ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=22853558\">Source Link</a>\n\n</div>\n","source":"highlight_streetinsider","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GraniteShares Announces Forward Split of NVDL and FBL</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGraniteShares Announces Forward Split of NVDL and FBL\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-08 13:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=22853558><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK, Feb. 28, 2024 (GLOBE NEWSWIRE) -- GraniteShares has announced it will execute forward share splits for two of its ETFs. 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The total market value of the shares outstanding will not be affected as a result of these splits.Forward splits will be executed on GraniteShares 2x Long NVDA Daily ETF and GraniteShares 2x Long META Daily ETF.After the close of the markets on March 12, 2024 (the “Payable Date”), each Fund will effect a forward split of its issued and outstanding shares as follows:Fund NameTickerCUSIPForward Split RatioApproximate increase in total number of outstanding sharesGraniteShares 2x Long NVDA Daily ETFNVDL38747R8276 for 1500%GraniteShares 2x Long META Daily ETFFBL38747R8435 for 1400%As a result of these share splits, shareholders of each Fund will receive six or five, as applicable, shares for each share held of the applicable Fund as indicated in the table above. Accordingly, the number of each Fund’s issued and outstanding shares will increase by the approximate percentage indicated above.The tickers and CUSIPs will not be affected by the transactions.All share splits will apply to shareholders of record as of the close of the NASDAQ Stock Market. (the “NASDAQ”) on March 11, 2024 (the “Record Date”), payable after the close of the NASDAQ on the Payable Date. Shares of the Funds will begin trading on the NASDAQ on a split-adjusted basis on March 13, 2024 (the “Ex-Date”). On the Ex-Date, the opening market value of each Fund’s issued and outstanding shares, and thus a shareholder’s investment value, will not be affected by the share split. However, the per share net asset value (“NAV”) and opening market price on the Ex-Date will be approximately one-sixth or one- fifth, as applicable, for the Funds. The table below illustrates the effect of a hypothetical six-for-one or five-for-one split on a shareholder’s investment.6-for-1 forward splitPeriod# of shares ownedHypothetical NAVTotal Market ValuePre-Split10US$ 60US$ 600Post-Split60US$ 10US$ 6005-for-1 forward splitPeriod# of shares ownedHypothetical NAVTotal Market ValuePre-Split10US$ 50US$ 500Post-Split50US$ 10US$ 500About GraniteSharesGraniteShares is an independent ETF issuer headquartered in New York City.GraniteShares current ETF offering is presented below:ETF NAMETICKERUNDERLYING STOCKMANAGEMENT FEE/TOTAL EXPENSESGraniteShares 2x Long AAPL Daily ETFAAPBApple0.99%/1.15%GraniteShares 1x Short AMD Daily ETFAMDSAMD0.99%/1.15%GraniteShares 2x Long BABA Daily ETFBABXAlibaba0.99%/1.15%GraniteShares 2x Long COIN Daily ETFCONLCoinbase0.99%/1.15%GraniteShares 2x Long META Daily ETFFBLMeta0.99%/1.15%GraniteShares 2x Long NVDA Daily ETFNVDLNVIDIA0.99%/1.15%GraniteShares 2x Short NVDA Daily ETFNVDNVIDIA1.30%/1.50%GraniteShares 1.25x Long TSLA Daily ETFTSLTesla0.99%/1.15%GraniteShares 2x Long TSLA Daily ETFTSLRTesla1.30%/1.50%GraniteShares 2x Short TSLA Daily ETFTSDDTesla1.30%/1.50%ETF NAMETICKEREXPOSUREMANAGEMENT FEE/TOTAL EXPENSESGraniteShares Gold TrustBARGold0.17%GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETFCOMBBroad Commodities0.25%GraniteShares HIPS US High Income ETFHIPSHigh Income0.70%/3.19%GraniteShares Platinum TrustPLTMPlatinum0.50%GraniteShares Nasdaq Select Disruptors ETFDRUPU.S. Large Cap0.60%Gregory FCA for GraniteSharesKathleen Elicker, 484-889-6597[email protected]Important InformationInvestors 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 (844) 476 8747 or visit www.graniteshares.com. Read the prospectus or summary prospectus carefully before investing.The investment program of the funds is speculative, entails substantial risks and include asset classes and investment techniques not employed by more traditional mutual funds.PRINCIPAL FUND RISKS (see the Prospectus for more information)GraniteShares Leveraged Long and Inverse Daily ETFs are not suitable for all investors. The funds seek daily leveraged investment results and are intended to be used as short-term trading vehicles. The funds pursue daily leveraged investment objectives, which means that the funds are riskier than alternatives that do not use leverage because the fund magnifies the performance of the underlying security. The volatility of the underlying security may affect the fund return as much as, or more than, the return of the underlying security. Investors who do not understand the Funds, or do not intend to actively manage their funds and monitor their investments, should not buy the Funds. The Funds are designed to be utilized only by traders and sophisticated investors who understand the potential consequences of seeking daily inverse and/or leveraged investment results, understand the risks associated with the use of leverage and/or short sales and are willing to monitor their portfolios frequently. For periods longer than a single day, the Funds will lose money if the underlying stock’s performance is flat, and it is possible that the Funds will lose money even if the underlying stock’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day. The Funds track the price of a single stock rather than an index, eliminating the benefits of diversification that most mutual funds and exchange-traded funds offer. Although the Funds will be listed and traded on an exchange, an investment in a Fund may not be suitable for every investor. The Funds pose risks that are unique and complex.This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.THE FUNDS ARE DISTRIBUTED BY ALPS DISTRIBIUTORS, INC. GRANITESHRES IS NOT AFFILIATED WITH ALPS DISTRIBUTORS, INC","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2415589024"}