Columbia Core Bond ETF (NYSE Arca: GMTB), Columbia Intermediate Municipal Bond ETF (NYSE Arca: GMMB), Columbia Emerging Markets Core ETF (NYSE Arca: EMCR) and Columbia EM Strategic Opportunities ETF (NYSE Arca: EMDD) announced that each will be closed, and their respective assets will be liquidated to shareholders on or about July 28, 2017, as discussed below.
The last date for authorized participants to transact in creation units of Columbia Core Bond ETF, Columbia Intermediate Municipal Bond ETF, Columbia Emerging Markets Core ETF and Columbia EM Strategic Opportunities ETF (the Liquidating ETFs) will be July 21, 2017.
The last day of trading in shares of the Liquidating ETFs on the NYSE Arca exchange is expected to be July 21, 2017, after which the Liquidating ETFs will no longer engage in any business activities except for the purpose of winding up their business affairs, including selling portfolio assets to raise cash for the liquidations (which may take a week or more), discharging or making reasonable provision for the payment of all their liabilities, and liquidating and distributing their respective remaining assets to Liquidating ETF shareholders.
Shareholders may sell their shares on or before July 21, 2017 and may incur customary brokerage charges being charged. Shareholders who do not sell their shares on or before July 21, 2017 will receive cash equal to the amount of the net asset value of their respective shares as of the close of business on July 28, 2017, which is the date the liquidating distributions are expected to be paid (the Distribution Date). While shareholders’ proportionate interests (i.e., the number of ETF shares owned) in a Liquidating ETF is fixed as of the close of business on July 21, 2017, the value of that interest may fluctuate, including decline, through the Distribution Date. The liquidation distributions will be made in cash or cash equivalents. The Liquidating ETFs’ investment manager will bear all legal and other expenses associated with the Liquidating ETFs’ closures and liquidations.