UPDATE -- Tidal Financial Group and Defiance ETFs Announce Reverse Stock Splits for Select ETFs

NEW YORK, March 12, 2026 (GLOBE NEWSWIRE) -- Tidal Financial Group and Defiance ETFs announce reverse stock splits for twenty four of Defiance’s 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 the date found in the table below.

TickerFund NameSplit RatioShare Reduction %CUSIPNew CUSIPExchangeEffective DateMSTXDefiance Daily Target 2X Long MSTR ETF1:1090%88636J25388636W221Nasdaq03/19/26RGTXDefiance Daily Target 2X Long RGTI ETF1:475%88636R13188636Y102Nasdaq03/19/26SOUXDefiance Daily Target 2X Long SOUN ETF1:475%88636R15688636Y201Nasdaq03/19/26RIOXDefiance Daily Target 2X Long RIOT ETF1:366.67%88636J28788636Y854NYSE03/19/26VSTLDefiance Daily Target 2X Long VST ETF1:366.67%88636R18088636Y300Nasdaq03/19/26HOOXDefiance Daily Target 2X Long HOOD ETF1:366.67%88636R19888636Y409Nasdaq03/19/26IONXDefiance Daily Target 2X Long IONQ ETF1:366.67%88636R23088636Y508Nasdaq03/19/26HIMZDefiance Daily Target 2X Long HIMS ETF1:1492.86%88636R24888636Y607Nasdaq03/19/26SMCXDefiance Daily Target 2X Long SMCI ETF1:250%88636J22088636W239Nasdaq03/19/26BTFLDefiance Daily Target 2X Long BITF ETF1:250%88636X71688636Y706CBOE03/20/26RKTLDefiance Daily Target 2X Long RKT ETF1:250%88636X64188636Y805CBOE03/20/26QSUDefiance Daily Target 2X Long QS ETF1:683.33%88636W63588636Y862NYSE03/20/26IREDefiance Daily Target 2X Long IREN ETF1:475%88636W65088636Y888NYSE03/20/26MPLDefiance Daily Target 2X Long MP ETF1:366.67%88636W64388636Y870NYSE03/20/26DKNXDefiance Daily Target 2X Long DKNG ETF1:580%88636R48788636W213Nasdaq03/20/26ORCXDefiance Daily Target 2X Long ORCL ETF1:366.67%88636R51188636W197Nasdaq03/20/26MST*Defiance Leveraged Long + Income MSTR ETF1:785.71%88636W27088636W189Nasdaq03/23/26RKLZDefiance Daily Target 2X Short RKLB ETF1:887.50%88636V82788636W171Nasdaq03/23/26OSCXDefiance Daily Target 2X Long OSCR ETF1:475%88636W73488636W122Nasdaq03/23/26STSMDefiance Daily Target 2X Short TSM ETF1:366.67%88636W43788636W163NYSE03/23/26OKLSDefiance Daily Target 2X Short OKLO ETF1:366.67%88636W46088636W155NYSE03/23/26AVXXDefiance Daily Target 2X Long AVAV ETF1:366.67%88636W79188636W114Nasdaq03/23/26QPUXDefiance 2X Daily Long Pure Quantum ETF1:366.67%88636V40588636W130Nasdaq03/23/26QBTZDefiance Daily Target 2X Short QBTS ETF1:366.67%88636V64588636W148Nasdaq03/23/26

*Due to DTC processing limitations, two corporate actions cannot occur in the same week. As a result, MST will not declare a distribution for the week of March 16 (Declaration date: 3/17; Ex-Date and Record Date: 3/18; Payable Date: 3/19), and the distribution rate for that week will be $0.00.

The regular weekly distribution schedule will resume the following week of March 23 (Declaration date: 3/24; Ex-Date and Record Date: 3/25; Payable Date: 3/26), and that distribution will include the amount that would have been distributed the prior week.

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 or summary prospectus contains this and other important information about the fund and should be read carefully before investing. A prospectus or summary prospectus can be obtained here.

Investing involves risk. Principal loss is possible.

Distributor: Foreside Fund Services, LLC.