Langar Investment Management, LLC Announces Board Approval of the Liquidation and Closure of Langar Global HealthTech ETF

LOS ANGELES, Sept. 30, 2026 /PRNewswire/ -- Langar Investment Management, LLC (the "Adviser"), announced today that the Trust's Board of Trustees (the "Board") has approved a Plan of Liquidation and Termination (the "Plan") to terminate, liquidate, and close the Langar Global HealthTech ETF (Ticker: [LGHT] (the "Fund"), a series of the Spinnaker ETF Series.

The Board's decision follows a comprehensive recommendation by the Adviser, which evaluated the Fund's current asset size, historical growth, and ongoing outlook for investor demand, ultimately determining that liquidating the Fund is in the best interests of both the Fund and its shareholders.

Key Operations & Cboe BZX Closure Timeline

The Fund will wind down operations according to the following anticipated schedule:

• Suspension of Creation Units: Effective post-close on October 28, 2026, the Fund will no longer accept orders for new creation units from Authorized Participants.
  
  
• Last Day of Public Secondary Trading: The final day for trading shares of the Fund on the Cboe BZX Exchange, Inc. will be October 30, 2026. Shares will be halted prior to the market open on November 2, 2026 and will subsequently be de-listed from Cboe BZX.
  
  
• Liquidation Date & Final Cash Distribution: On or about October 30, 2026 (the "Liquidation Date"), the Fund will distribute its remaining assets pro rata in cash to shareholders of record who have not previously sold their shares.

Important Notices for Shareholders

Secondary Market Trading: Shareholders may continue to buy and sell shares of the Fund on Cboe BZX until the market close on October 30, 2026. Customary brokerage commissions and transaction fees may apply to these transactions.

Portfolio Transition & Strategy Deviation: In anticipation of the liquidation, the Fund will begin liquidating its underlying portfolio holdings and transitioning into cash or cash equivalents. During this wind-down transition period, the Fund will increase its cash positions, and will deviate from its stated investment objective and strategies.

Tax Treatment Notice: The final liquidating distribution is a taxable event for shareholders holding positions in taxable accounts. Remaining shareholders will automatically receive cash in their brokerage accounts. Shareholders are strongly encouraged to consult their tax advisors to understand the specific tax consequences of the liquidation, including potential capital gains or losses.

About Langar Investment Management, LLC

Langar Investment Management is the investment management subsidiary of Langar Technology, Inc. and the adviser to the Langar Global HealthTech ETF (LGHT).

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SOURCE Langar Technology, Inc.