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Goldman Sachs Asset Management Announces Liquidation of Three Exchange-Traded Funds
NEW YORK, December 15, 2025--Goldman Sachs Asset Management ("GSAM"), the investment adviser for the Goldman Sachs U.S. Large Cap Buffer 1 ETF, Goldman Sachs U.S. Large Cap Buffer 2 ETF and Goldman Sachs U.S. Large Cap Buffer 3 ETF (each, a "Fund" and collectively, the "Funds"), announced today that the Funds’ Board of Trustees (the "Board"), at the recommendation of GSAM, has approved a plan of liquidation for each Fund (collectively, the "Plans"). GSAM sought Board approval of the liquidations
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[{"type":"text","content":"NEW YORK, December 15, 2025--(BUSINESS WIRE)--Goldman Sachs Asset Management ("GSAM"), the investment adviser for the Goldman Sachs U.S. Large Cap Buffer 1 ETF, Goldman Sachs U.S. Large Cap Buffer 2 ETF and Goldman Sachs U.S. Large Cap Buffer 3 ETF (each, a "Fund" and collectively, the "Funds"), announced today that the Funds’ Board of Trustees (the "Board"), at the recommendation of GSAM, has approved a plan of liquidation for each Fund (collectively, the "Plans"). GSAM sought Board approval of the liquidations following the announcement that Goldman Sachs Group, Inc. entered into an agreement to acquire Innovator Capital Management, a pioneer in the Defined Outcome space offering several similar products. Under the Plans, which are effective today, at the conclusion of each Fund’s final three-month Outcome Period ending on the dates specified below, a Fund will not start a new Outcome Period and will instead begin the process of liquidating portfolio assets and unwinding its affairs in an orderly fashion over time. The Plans are not subject to shareholder approval.","length":1133,"tagName":"p"},{"type":"text","content":"Shareholders of the Funds may sell their shares on its listing exchange, Cboe BZX Exchange, Inc. ("Cboe"), until market close on the dates specified below and may incur transaction fees from their broker-dealer. The Funds’ shares will no longer trade on Cboe after market close on the dates specified below, and the shares will subsequently be de-listed. Shareholders who continue to hold shares of each Fund on each Fund’s liquidation date, which is expected to be on or about the dates specified below, will receive a liquidating distribution of cash in the cash portion of their brokerage accounts equal to the amount of the net asset value of their shares. For tax purposes, shareholders will generally recognize a capital gain or loss equal to the amount received for their shares over their adjusted basis in such shares. Each Fund will stop accepting creation orders from Authorized Participants on the dates specified below.","length":942,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"border-top:solid black 1.0pt;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0p...