Every material Form 8-K Amplify Commodity Trust filed with the SEC in 2023, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
ETF Managers Capital LLC agreed to resign as sponsor of the trust that includes the Breakwave Dry Bulk Shipping ETF (BDRY), with Amplify Investments LLC taking over the role. The change is expected to take effect in the first quarter of 2024, and the filing says it is not expected to affect the trust, its shareholders or investments in the funds, though completion is not guaranteed.
Amplify Investments LLC will become sole sponsor of the trust after the transition, and intends to continue the trust and funds' business.
The sponsor replacement is expected to take effect 30 to 60 days from December 28, 2023, and is expected in the first quarter of 2024.
The trust includes the Breakwave Dry Bulk Shipping ETF (BDRY) and the Breakwave Tanker Shipping ETF (BWET).
The filing states there is no guarantee the replacement will be completed within the expected time frame, or at all.
Effective August 14, 2023, the sponsor of the trust, ETF Managers Capital LLC, entered into a new Marketing Agent Agreement with Foreside Fund Services, LLC, which will handle distribution and marketing functions. The prior marketing agreement with ETFMG Financial LLC was terminated as of the same date, and ETFMG Financial will no longer provide services to the trust. The filing is an administrative change in service providers and does not report any financial results.
Effective date of the new agreement and termination: August 14, 2023
Foreside assists with marketing materials review, certain regulatory compliance, and processing of creation and redemption orders
Sponsor agreed to indemnify Foreside against certain liabilities, including under the Securities Act of 1933
Prior agreement dated March 1, 2017 with ETFMG Financial LLC, which was identified as the Distributor in each Fund's Prospectus, was terminated
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Amplify Commodity Trust filing is on SEC EDGAR ↗. 8-K briefs of other companies →