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GraniteShares adjusts Moderna ETP in upcoming consolidation

Published 07/05/2025, 07:04
GraniteShares adjusts Moderna ETP in upcoming consolidation
GR3LMO
14.16%

LONDON - GraniteShares Financial PLC announced a consolidation of its GraniteShares 3x Long Moderna (NASDAQ:MRNA) Daily ETP Securities (ETP Securities), scheduled to take effect on Monday, May 19, 2025. The adjustment will see every 5,000 existing ETP Securities combined into a single new ETP Security.

The consolidation is planned according to Condition 19 (Consolidation and Division of ETP Securities) of the ETP Securities terms and conditions and will be executed through a Supplemental Trust Deed. The record date for the consolidation is set for May 16, 2025, which will be the last day of trading before the new structure is implemented.

As part of the consolidation process, the International Securities Identification Number (ISIN) for the ETP Securities will change from XS2613356620 to XS3069877556. Additionally, the Stock Exchange Daily Official List (SEDOL) codes for the USD and GBX trading lines will also be updated. The USD trading line, currently listed under the ticker 3LMO, will have its SEDOL change from BL54939 to BQ82BC8, and the GBX trading line, currently under the ticker MOL3, will see a change from BL54940 to BQ82BH3.

For security holders who, as a result of the consolidation, would be entitled to a fractional ETP Security, the issuer will redeem such fractions. The payment for fractional ETP Securities will be the greater of the Value per ETP as determined on the Record Date or the Minimum Redemption Amount.

This consolidation is a routine financial adjustment that affects the structure of the ETP Securities without altering the underlying exposure to Moderna’s stock performance that the ETP provides. Investors in the GraniteShares 3x Long Moderna Daily ETP should consult their financial advisors to understand the implications of the consolidation on their holdings.

The information for this article is based on a press release statement issued by GraniteShares Financial PLC.

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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