NEW YORK, July 17, 2026 (GLOBE NEWSWIRE) -- Tidal Financial Group and Defiance ETFs announce reverse stock splits for eleven of Defiance’s leveraged exchange-traded funds (“ETFs”). These reverse splits are intended to reduce the number of outstanding shares and proportionally increase each fund’s share price, with no impact on the total value of shareholders’ investments.
The reverse stock splits will apply to shareholders of record as of Tuesday, August 18, 2026, or Wednesday, August 19, 2026, as applicable. The effective date for each reverse stock split is set forth in the table below.
| Fund Name | Ticker | CUSIP | New CUSIP | Reverse Split Ratio | Approximate Decrease in Outstanding Shares | Effective Date |
| Defiance Daily Target 2X Long AVAV ETF | AVXX | 88636W114 | 88636Y532 | 1:5 | 80% | 8/18/2026 |
| Defiance Daily Target 2X Long RCAT ETF | RCAX | 88636W718 | 88636Y599 | 1:5 | 80% | 8/18/2026 |
| Defiance Daily Target 2X Short RKLB ETF | RKLZ | 88636W171 | 88636Y565 | 1:5 | 80% | 8/18/2026 |
| Defiance Daily Target 2X Short IONQ ETF | IONZ | 88636W247 | 88636Y490 | 1:10 | 90% | 8/18/2026 |
| Defiance Daily Target 2X Short SMCI ETF | SMCZ | 88636W262 | 88636Y482 | 1:2 | 50% | 8/19/2026 |
| Defiance Daily Target 2X Short TSM ETF | STSM | 88636W163 | 88636Y557 | 1:2 | 50% | 8/19/2026 |
| Defiance Daily Target 2X Short ASTS ETF | ASTN | 88636W585 | 88636Y573 | 1:4 | 75% | 8/19/2026 |
| Defiance Daily Target 2X Short QBTS ETF | QBTZ | 88636W148 | 88636Y540 | 1:5 | 80% | 8/19/2026 |
| Defiance Daily Target 2X Long OKLO ETF | OKLL | 88636V678 | 88636Y524 | 1:5 | 80% | 8/19/2026 |
| Defiance Daily Target 2X Short RGTI ETF | RGTZ | 88636V652 | 88636Y516 | 1:5 | 80% | 8/19/2026 |
| Defiance Daily Target 2X Short AMD ETF | DAMD | 88636W619 | 88636Y581 | 1:10 | 90% | 8/19/2026 |
After the reverse stock splits, shareholders will receive one share for the number of shares indicated in the applicable ratio. For example, a 1-for-4 split means every four pre-split shares will be combined into one post-split share.
The total market value of each investor’s holdings will remain unchanged immediately following the reverse split, as the share price will adjust proportionally to reflect the reduced number of shares.
No action is required by current shareholders. The Depository Trust Company (“DTC”) will handle the splits automatically, and updated share balances will appear in shareholder accounts following the effective dates.
Fractional Shares and Tax Implications
The reverse split may result in some shareholders being entitled to fractional shares. Shareholders with fractional shares may receive cash compensation equivalent to the value of the fraction, subject to the policies of their broker. This redemption may have tax implications, and shareholders are advised to consult their tax advisors for personalized guidance. There will be no transaction fee for redeeming fractional shares.
About Defiance ETFs
Defiance ETFs is a leading issuer of thematic and leveraged exchange-traded funds designed to provide investors with exposure to disruptive innovation and emerging technologies. Defiance empowers investors with tactical tools to express forward-looking views on markets and sectors at the forefront of change.
For more information, please visit www.defianceetfs.com.
About Tidal Financial Group
Tidal Financial Group provides a comprehensive platform for ETF innovation, helping asset managers and investment firms bring differentiated strategies to market. Tidal delivers end-to-end ETF solutions, including product design, operations, compliance, marketing, and distribution — enabling partners like Defiance to focus on strategy and performance.
Learn more at www.tidalfinancialgroup.com.
Important Information:
Leveraged ETFs are not suitable for all investors and may be more volatile than traditional ETFs. They are designed for short-term tactical trading and not for long-term investment.
Investors should carefully consider a fund’s investment objectives, risks, charges, and expenses before investing. The prospectus contains this and other important information about the fund and should be read carefully before investing.
Investing involves risk. Principal loss is possible.
Distributor: Foreside Fund Services, LLC.
