Dear T212 traders,
GraniteShares would like to inform you about our decision to consolidate the GraniteShares 3x Short Tesla ETP (3STS). For every 1,500 ETPs owned, investors will receive 1 new ETP in exchange.
Investors already invested in 3STS will own fewer ETPs than before the consolidation but the Value per ETP will be proportionally higher. As a result, there will be no impact on the value of your investment. If the consolidation results in any fractional securities, they will automatically be redeemed in cash.
The record date for the consolidation will be on 14th May 2021 with the consolidation date effective on 17th May 2021. Proceeds linked to fractional ETPs are expected to be transferred to the clearing systems on 19 May 2021. Please note it may take a few days for the payment to be received.
GraniteShares believes it is in the investors’ interest to keep ETP prices within efficient trading ranges, and to try and avoid situations where ETP prices become too low or too high.
GraniteShares will not charge any commissions or fees related to the consolidation of securities or disbursement of the payments if fractional securities are involved.
Please refer to the following link for more information: 3STS-Reverse Split effective 17 May 2021
In case of any additional questions, please let us know.