Hennessy Advisors to acquire management of two STF ETFs with $220M in combined assets

HENNESSY ADVISORS INC

Definitive agreement to buy assets of STF Tactical Growth ETF (TUG) and STF Tactical Growth & Income ETF (TUGN); combined assets ~$220M.
Expected to close in Q3 2025, subject to SEC, fund board, and shareholder approvals.
Portfolio manager Jonathan Molchan will continue managing the funds and join Hennessy.
ETFs to be renamed Hennessy Tactical Growth ETF and Hennessy Tactical Growth & Income ETF under Hennessy Funds Trust.
Transaction structured as tax-free reorganization; shareholders should recognize no gain/loss for federal tax.

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