Business
Yorkville America Equities, LLC and Truth Social Funds Announce Proposed Acquisition of the Point Bridge America First ETF (MAGA)
Yorkville America Equities, LLC ("Yorkville"), investment adviser for the Truth Social Funds, today announced that it has entered into an agreement to acquire the Point Bridge America First ETF (Ticker: MAGA) into the Truth Social Funds product suite. The respective Board of Trustees of the Truth Social Funds and ETF Series Solutions have approved this transaction, which, if approved by shareholders, is expected to close in Q2 2026.
About this update from Trump Media & Technology Group Corp.
[{"type":"text","content":"SARASOTA, Fla., Feb. 19, 2026 /PRNewswire/ -- Yorkville America Equities, LLC ("Yorkville"), investment adviser for the Truth Social Funds, today announced that it has entered into an agreement to acquire the Point Bridge America First ETF (Ticker: MAGA) into the Truth Social Funds product suite. The respective Board of Trustees of the Truth Social Funds and ETF Series Solutions have approved this transaction, which, if approved by shareholders, is expected to close in Q2 2026.","length":492,"tagName":"p"},{"type":"text","content":"The Truth Social Funds and each of its existing ETF series are part of the Truth.Fi fintech brand from Trump Media & Technology Group Corp. (Nasdaq, NYSE Texas: DJT) ("Trump Media"), operator of the social media platform Truth Social and the streaming platform Truth+. Pursuant to the transaction, the Point Bridge America First ETF would be reorganized into the Truth Social America First ETF.","length":408,"tagName":"p"},{"type":"text","content":"The Point Bridge America First ETF currently has approximately $32 million in assets under management. Upon closing of the acquisition, Yorkville would become the investment adviser to the Truth Social America First ETF. Point Bridge Capital, LLC would continue to provide day-to-day portfolio management in a sub-advisory capacity, and Tuttle Capital Management, LLC would serve as trading sub-adviser responsible for trading portfolio securities and broker-dealer selection. Vident Asset Management would not continue as sub-adviser following the transaction.","length":561,"tagName":"p"},{"type":"text","content":"The investment objective, principal investment strategies, principal risks, and management fee of the ETF are expected to remain the same following the acquisition.","length":164,"tagName":"p"},{"type":"text","content":"Under the terms of the agreement and plan of reorganization, the target fund will transfer all of its assets to the acquiring fund in exchange for shares of the acquiring fund, which will assume all liabilities of the target fund. Shareholders of the target fund will receive shares of the acquiring fund equal in value to the net asset value of their target fund holdings immediately prior to the closing of the transaction. The transaction is expected to be a tax-free reorganization for U.S. federal income tax purpose...