Los Angeles – September 30, 2026 -- Langar Investment Management, LLC will liquidate and close the Langar Global HealthTech ETF (Ticker: LGHT), a series of the Spinnaker ETF Series, after the Trust's Board of Trustees approved a Plan of Liquidation and Termination.
Board cites asset size and demand outlook in liquidation decision
The Adviser recommended the closure after evaluating the Fund's current asset size, historical growth, and ongoing outlook for investor demand, concluding that liquidation serves the best interests of the Fund and its shareholders.
Creation units halt October 28, trading ends October 30
Effective post-close on October 28, 2026, the Fund will stop accepting orders for new creation units from Authorized Participants. October 30, 2026 marks the final day of public trading on the Cboe BZX Exchange, with shares halted prior to market open on November 2, 2026 and subsequently de-listed.
Fund shifts to cash ahead of final distribution
Ahead of the wind-down, the Fund will liquidate underlying portfolio holdings and increase cash positions, deviating from its stated investment objective and strategies during the transition period. On or about October 30, 2026, the Liquidation Date, remaining assets will be distributed pro rata in cash to shareholders of record.
Shareholders face taxable event on final distribution
The final liquidating distribution constitutes a taxable event for shareholders holding positions in taxable accounts, with cash automatically deposited into brokerage accounts. Shareholders are advised to consult tax professionals regarding potential capital gains or losses arising from the liquidation.
Shareholders may continue buying and selling Fund shares on Cboe BZX until market close on October 30, 2026, subject to customary brokerage commissions and transaction fees.