RICHMOND, VA / ACCESS Newswire / August 13, 2026 / OT Advisors LLC, the investment sub-adviser to the Opportunistic Trader ETF (Ticker: WZRD) (the "Fund"), today announced the execution of a reverse share split of the Fund.
The total market value of shares outstanding for the Fund will not be affected as a result of this corporate action, except with respect to the redemption of fractional shares, as described below.
Reverse Share Split
The Fund will execute a 1-for-15 reverse share split of its issued and outstanding shares.
After the close of markets on August 28, 2026, the Fund will affect the reverse share split as follows:
Fund Name | Ticker | Split Ratio | CUSIP (Old) | CUSIP (New) |
|---|---|---|---|---|
Opportunistic Trader ETF | WZRD | 1-for-15 | 26923Q697 | 26923Y807 |
The new CUSIP will become effective after market close on August 28, 2026.
As a result of the reverse share split, shareholders will receive one share for every fifteen shares held. The number of issued and outstanding shares of the Fund will decrease proportionally, while the total value of each shareholder's investment will remain unchanged, except for the value of any fractional shares redeemed for cash.
Period | Number of Shares Owned | Hypothetical Net Asset Value | Total Market Value |
|---|---|---|---|
Pre-Reverse Split | 15,000 | $1.00 | $15,000.00 |
Post-Reverse Split | 1,000 | $15.00 | $15,000.00 |
The reverse share split will apply to shareholders of record as of the close of trading on August 28, 2026. Shares of the Fund will begin trading on a split-adjusted basis on August 31, 2026.
Redemption of Fractional Shares and Tax Consequences
As a result of the reverse share split, shareholders may hold fractional shares. Since fractional shares cannot be traded on an exchange, the Fund will redeem any fractional shares for cash at the Fund's split-adjusted net asset value following the close of markets on August 28, 2026.
The redemption of fractional shares may have tax implications, and shareholders could recognize a gain or loss in connection with such redemption. Other than the redemption of fractional shares, the reverse share split will not result in a taxable transaction for shareholders. No transaction fee will be imposed in connection with the redemption of fractional shares.
"Odd Lot" Unit
Also, because of the reverse share split, the Fund may have outstanding one aggregation of less than the required number of shares to make a creation unit, or an "odd lot unit." Thus, the Fund will provide one authorized participant with a one-time opportunity to redeem the odd lot unit at the split-adjusted NAV or the NAV on such date the authorized participant seeks to redeem the odd lot unit.
The Trust's transfer agent will notify the Depository Trust Company ("DTC") of the reverse share split and instruct DTC to adjust each shareholder's investment accordingly. DTC is the registered owner of the Fund's shares and maintains a record of the Fund's record owners.
About OT Advisors LLC
OT Advisors LLC serves as the investment sub-adviser to the Opportunistic Trader ETF (Ticker: WZRD). Led by veteran portfolio manager Larry Benedict, OT Advisors applies a tactical investment approach focused on risk management, active portfolio positioning, and identifying opportunities across changing market environments.
For more information, please visit: https://opportunistictraderetf.com/
Toll-Free: 855-994-4773
SOURCE: OT Advisors LLC
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/exchange-traded-funds/opportunistic-trader-etf-announces-reverse-share-split-1206303
