On June 12, 2023, Amplify ETFs announced that it will acquire ETF Managers Group’s exchange-traded funds.
Under the terms of the transaction, Amplify ETFs (“Amplify”) will acquire ETF Managers Group’s (“ETFMG”) exchange-traded funds. The acquisition will double Amplify’s current offerings. The transaction is expected to close later in 2023 subject to customary shareholder approval. No further terms of the transaction were disclosed.
Amplify, based in Lisle, Illinois, has a portfolio of 15 ETFs offered to investors. As of June 30, 2023, Amplify had approximately $4.4 billion in assets throughout its suite of ETFs. Oppenheimer & Co. Inc. acted as exclusive financial advisor to Amplify on the transaction.
ETFMG, based in Summit, New Jersey, is an ETF issuer that has ETFs in cannabis, cybersecurity and mobile payments. As of June 9, 2023, ETFMG had approximately $3.6 billion in assets.
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