NEW
YORK, May 20, 2022 /PRNewswire/ -- Global X
ETFs, the New York-based provider
of exchange-traded funds (ETFs), today announced a reverse split of
the Global X Cannabis ETF (POTX) ("the Fund").
Effective after market close on June 10,
2022, the Fund will affect a reverse split at a ratio of
1:6. The reverse split will increase the price per share of the
Fund with a proportionate decrease in the number of shares
outstanding. For example, every six pre-split shares will result in
receipt of one post-split share, which will be priced six times
higher than the net asset value (NAV) of a pre-split share.
Illustration of Reverse Split
The following table shows the effect of a hypothetical 1:6
reverse split:
|
Period # of
Shares
Owned
|
Hypothetical
NAV
|
Value
of
Shares
|
|
Pre-Split
|
600
|
$10
|
$6,000
|
|
Post-Split
|
100
|
$60
|
$6,000
|
Fractional Shares
As a result of the reverse split, a shareholder of the Fund's
shares could potentially hold fractional shares. In this case, a
Fund will redeem the cash value (at NAV) of any fractional shares
resulting from the reverse split. Receipt of cash in lieu of
fractional shares may result in a taxable event to shareholders,
and each shareholder should consult with the shareholder's own tax
advisers with respect to the appropriate treatment of the receipt
of such cash payment.
About Global X ETFs
Global X ETFs was founded in 2008. For more than a decade, our
mission has been empowering investors with unexplored and
intelligent solutions. Our product lineup features over 90 ETF
strategies and over $40 billion in
assets under management.i While we are distinguished for
our Thematic Growth, Income and International Access ETFs, we also
offer Core, Commodity, and Alpha funds to suit a wide range of
investment objectives. Explore our ETFs, research and insights, and
more at www.globalxetfs.com.
Global X is a member of Mirae Asset Financial Group, a global
leader in financial services, with more than $640 billion in assets under management
worldwide.ii Mirae Asset has an extensive global ETF
platform ranging across the US, Brazil, Canada, Colombia, Europe, Hong
Kong, India, Japan, Korea, and Vietnam with over $80
billion in assets under management.iii
Media Contact
Frank
Taylor
Dukas Linden Public Relations
frank@dlpr.com
(646) 808-3647
Important Disclosures
This information is not intended to be individual or
personalized investment or tax advice and should not be used for
trading purposes. Please consult a financial advisor or tax
professional for more information regarding your investment and/or
tax situation.
Investing involves risk, including the possible loss of
principal. Shares of ETFs are bought and sold at market price (not
NAV) and are not individually redeemed from the Fund. Brokerage
commissions will reduce returns.
Carefully consider the Funds' investment objectives,
risks, and charges and expenses before investing. This and other
information can be found in the Fund's summary or full
prospectuses, which are available at globalxetfs.com. Please read
the prospectus carefully before investing.
Global X Management Company LLC serves as an advisor to Global X
Funds. The Funds are distributed by SEI Investments Distribution
Co. (SIDCO), which is not affiliated with Global X Management
Company LLC or Mirae Asset Global Investments.
Information provided by Global X Management Company LLC (Global
X ETFs or Global X).
iSource: Global X, as of 4/04/22
iiMirae Asset, as of December
2021
iiiMirae Asset, as of 4/04/22
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SOURCE Global X Management Company LLC