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GraniteShares adjusts 3x Short Tesla ETP in reverse split

Published 19/05/2025, 13:04
GraniteShares adjusts 3x Short Tesla ETP in reverse split
3STS
-1.63%
3STE
-1.86%
3STP
-1.78%

LONDON - GraniteShares Financial PLC announced a consolidation of its GraniteShares 3x Short Tesla (NASDAQ:TSLA) Daily ETP Securities, which is set to take effect on 02 June 2025. This reverse split will see every 150 existing ETP Securities merged into one new ETP Security.

The record date for this consolidation is set for 30 May 2025, with trading of the new, consolidated securities beginning on Monday, 02 June 2025. The reverse split will result in a change of the International Securities Identification Number (ISIN) from XS2656471039 to XS3075487556. Additionally, the Stock Exchange Daily Official List (SEDOL) codes for trading lines in USD (3STS), GBX (3STP), and EUR (3STE) will also change to BMVFB15, BMVFB82, and BMVFBB5, respectively.

In cases where the consolidation results in fractional entitlements to an ETP Security, GraniteShares will redeem these fractional ETP Securities. The redemption value will be the greater of the Value per ETP as determined on the Record Date or the Minimum Redemption Amount.

The consolidation is being carried out in accordance with the terms set out in the Issue Deed relating to the ETP Securities and will be enacted through a Supplemental Trust Deed between GraniteShares Financial PLC and the Trustee.

Investors holding the GraniteShares 3x Short Tesla Daily ETP Securities are recommended to consult with their independent financial advisers to fully understand the implications of this consolidation on their investment.

GraniteShares Financial PLC, known for offering exchange-traded products, has provided this information in compliance with its obligations under the relevant conditions governing the ETP Securities. This notice is based on a press release statement issued by the company.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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