Tidal Financial Group Announces the Closure of the Azoria TSLA Convexity ETF (TSLV) and the Azoria 500 Meritocracy ETF (SPXM)

MILWAUKEE, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Tidal Financial Group today announced the upcoming closure and liquidation of the Azoria TSLA Convexity ETF (TSLV) and the Azoria 500 Meritocracy ETF (SPXM). The Board of Trustees of Tidal Trust III has determined that closing and liquidating the funds is in the best interest of each fund and its shareholders.

The Azoria TSLA Convexity ETF (“TSLV”) and the Azoria 500 Meritocracy ETF (“SPXM”) will cease trading on the Cboe BZX Exchange (“Cboe”) at the close of regular trading on Monday, December 8, 2025 (the “Closing Date”) and will no longer accept creation orders as of that date.

Shareholders may sell their holdings in the funds prior to the Closing Date through standard brokerage transactions, which may be subject to customary brokerage fees. After December 8, 2025, shareholders will be unable to buy or sell shares on an exchange and will instead receive cash distributions as part of the liquidation process.

Between December 8, 2025 and December 15, 2025, the funds will begin liquidating their holdings and increasing their cash positions in preparation for final distribution. During this period, each fund’s portfolio will depart from its stated investment strategy and objective.

On or around Monday, December 15, 2025 (the “Liquidation Date”), the funds will distribute their remaining net assets to shareholders of record who have not sold their shares prior to liquidation. This final distribution will be made in cash on a pro rata basis and will generally be treated as a taxable event. Shareholders should consult their tax advisers to understand the potential implications related to capital gains, losses, or dividends arising from the liquidation.

After the distribution of net assets is complete, the funds will be officially terminated.

About Tidal Financial Group

Formed by ETF industry pioneers and thought leaders, Tidal Investments LLC sets out to revolutionize the way ETFs have historically been developed, launched, marketed, and sold. With a focus on growing AUM, Tidal offers a comprehensive suite of services, proprietary tools, and methodologies designed to bring lasting ideas to market. Tidal is an advocate for ETF innovation and is committed to providing issuers with the intelligence and tools needed to efficiently and effectively launch ETFs and optimize growth potential in a highly competitive space.

Contact: Gavin Filmore at gfilmore@tidalfg.com

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