---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-014818"
form_type: "8-K"
ticker: "HNNA"
cik: "0001145255"
company_name: "HENNESSY ADVISORS INC"
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T11:52:02.273356+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "medium"
source: SEC EDGAR
---

# Hennessy Advisors to acquire CCM equity fund assets (~$70M); close expected in 2023

## Summary
- Acquires assets of CCM Core Impact Equity Fund and CCM Small/Mid-Cap Impact Value Fund with ~$70M in combined AUM.
- Transaction expected to close in calendar 2023, subject to shareholder and board approvals.
- Upon closing, funds will reorganize into Hennessy Stance ESG Large Cap ETF (renamed Hennessy Stance ESG ETF as of Apr 28, 2023).
- Deal structured as tax-free reorganization; CCM equity fund shareholders should recognize no gain/loss.
- Hennessy CEO cites alignment with ESG investment approach and commitment to shareholder service.

## SEC filing metadata
- accession: 0000950170-23-014818
- form_type: 8-K
- ticker: HNNA
- cik: 0001145255
- company_name: HENNESSY ADVISORS INC
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: medium
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1145255/000095017023014818/0000950170-23-014818-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1145255/000095017023014818/hnna-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-014818
- JSON: https://secwatch.observer/filing/0000950170-23-014818.json
- Plain text: https://secwatch.observer/filing/0000950170-23-014818.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.