Empowered Funds to Liquidate Two Sophus Capital Emerging Market ETFs

The liquidation process concludes on or about September 28, 2026, marking the end for the EMEM and EMSC tickers. Investors have until the end of the trading day on September 25 to sell their holdings, though the firm warns that market liquidity may diminish as the deadline approaches. During this final window, the funds may deviate from their original investment objectives by increasing cash positions to prepare for the final payout.

Following the liquidation date, the firm will distribute remaining cash pro rata to shareholders of record. These distributions are expected to trigger taxable events, and investors should consult with tax advisors to determine the impact on their capital gains or losses. Once these payments are finalized, the funds will terminate operations. PINE Distributors LLC serves as the distributor for the funds, which are sponsored by Sophus Capital LLC and managed by Empowered Funds, LLC.