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GraniteShares adjusts Netflix ETP for reverse split

Published 19/05/2025, 13:00
GraniteShares adjusts Netflix ETP for reverse split
3SNF
4.44%

LONDON - GraniteShares Financial PLC announced a consolidation of its GraniteShares 3x Short Netflix (NASDAQ:NFLX) Daily ETP Securities (ETP Securities), which will take effect on Monday, June 2, 2025. The reverse split will see every 50 existing ETP Securities combined into a single new ETP Security.

This adjustment will result in changes to the International Securities Identification Number (ISIN) from XS2675292135 to XS3075487986, as well as updates to the Stock Exchange Daily Official List (SEDOL) codes for the trading lines in USD (3SNF), GBX (3SNP), and EUR (3SNE).

Security holders should note that the record date for the consolidation is set for May 30, 2025, which will be the last day of trading before the changes take place. The new consolidated securities will commence trading on the London Stock Exchange (LON:LSEG) on the specified Monday in June.

In instances where the consolidation results in fractional entitlements to the ETP Securities, the issuer will redeem these fractions. 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 in accordance with Condition 19 (Consolidation and Division of ETP Securities) of the ETP Securities and will be executed by way of a Supplemental Trust Deed between the Issuer and the Trustee.

This corporate action is a common practice in the financial markets, often used by issuers to adjust the number of shares in circulation and bring the share price to a desired range, which can potentially increase liquidity and make the securities more accessible to investors.

GraniteShares Financial PLC has issued this notice to inform stakeholders of the upcoming consolidation, and it is based on a press release statement from the company. Investors holding these ETP Securities are advised to consult with their financial advisors to understand the implications of this change on their investments.

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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