ETFs
Global X ETFs Announces Two ETF Share Consolidations
NEW YORK, June 14, 2024 /PRNewswire/ — Global X ETFs, the New York-based exchange-traded fund (ETF) provider, today announced a reverse split of the following two funds:
|
Funds |
Former CUSIP |
New CUSIP |
Division report |
|
Global X 1-3 Month Treasury Bond ETF (CLIP) |
37960A537 |
37960A438 |
1:4 |
|
Global X Hydrogen ETF (HYDR) |
37954Y152 |
37960A420 |
1:5 |
Beginning at market close on June 14, 2024, the funds listed above will reverse stock consolidation at the above ratios. The reverse stock split will increase the price per share of the Fund with a proportionate decrease in the number of shares outstanding. For example, every four pre-split shares will result in the receipt of one post-split share, the price of which will be four times the net asset value (NAV) of a pre-split share.
Illustration of reverse splitting
The following table shows the effect of a hypothetical 1:4 reverse split:
|
Period |
Number of shares |
Hypothetical |
Value of shares |
|
Pre-split |
400 |
$10 |
$4,000 |
|
Post-split |
100 |
$40 |
$4,000 |
The following table shows the effect of a hypothetical 1:5 reverse split:
|
Period |
Number of shares |
Hypothetical |
Value of shares |
|
Pre-split |
500 |
$10 |
$5,000 |
|
Post-split |
100 |
$50 |
$5,000 |
Fractional shares
Following the reverse stock split, a shareholder of the Fund’s shares could potentially hold fractional shares. In such event, the Fund will repurchase the redemption value (at net asset value) of any fractional shares resulting from the reverse consolidation. Receipt of cash in lieu of fractional shares may result in a taxable event for shareholders, and each shareholder should consult its own tax advisors regarding the appropriate treatment of the receipt of such cash payment.
Brokerage fees
Some brokerage fees may apply due to reverse consolidation. These fees are charged directly by the broker and are not fees of Global X Management Company LLC.
About Global X ETFs
Global X ETFs was founded in 2008. For over fifteen years, our mission has been to provide investors with unexplored and intelligent solutions. Our product suite includes a broad range of ETF strategies and more than $48 billion in assets under management. While we stand out for our thematic growth, income and international access ETFs, we also offer funds base and raw materials to meet a wide range. investment objectives. Discover our ETFs, research and information, and much more at www.globalxetfs.com.
Global , Australia, Brazil, Canada, Colombia, Europe, Hong Kong, India, Japan, Korea and Vietnam with more than $120 billion in assets under management.iii
Important information:
This information is not intended to constitute individual or personalized investment or tax advice and should not be used for commercial purposes. Please consult a financial advisor or tax professional for further information regarding your investment and/or tax situation.
Investing involves risks, including possible loss of capital. Shares of ETFs are bought and sold at market price (not net asset value) and are not redeemed individually from the Fund. Brokerage commissions will reduce returns.
Please consider the investment objectives, risks, charges and expenses of the Funds carefully before investing. This and other information can be found in the Fund’s summary or full prospectus, available at globalxetfs.com. Please read the prospectus carefully before investing.
Global X Management Company LLC serves as 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 ETF or Global X).
i Global X, as of 06/11/2024
ii Active Mirae, as of 06/11/2024
iii Active Mirae, as of 06/11/2024
CONTACT: Naomi Sussis, [email protected]
SOURCE Global X Management Company LLC