RICHMOND, VA / ACCESS Newswire / August 4, 2026 / REX Shares and Tuttle Capital Management LLC (collectively “T-REX”), the sponsor and adviser of the T-REX line of leveraged and inverse ETFs, today announced the execution of reverse share splits for the following exchange-traded funds (“Funds”):

  • T-REX 2X Long CRWV Daily Target ETF (Ticker:CRWU)

  • T-REX 2X Long CRCL Daily Target ETF (Ticker:CCUP)

  • T-REX 2X Long TTD Daily Target ETF (Ticker:TTDU)

  • T-REX 2X Long SBET Daily Target ETF (Ticker:SBTU)

  • T-REX 2X Long AXTI Daily Target ETF (Ticker:AXTU)

  • T-REX 2X Long TE Daily Target ETF (Ticker:TEUP)

  • T-REX 2X Long MSTR Daily Target ETF (Ticker:MSTU)

The total market value of shares outstanding for each Fund will not be affected because of these corporate actions, except with respect to the redemption of fractional shares, as outlined below.

Reverse Splits

T-REX will execute a 1-for-10 reverse split of the issued and outstanding shares of each Fund listed above.

After the close of the markets on August 21, 2026 (the “Record Date”), the Funds will affect a reverse split of the issued and outstanding shares as follows:

Please note the following CUSIP changes become effective after market close on August 21, 2026.

Fund Name

Ticker

Split Ratio

CUSIP (Old)

CUSIP (New)

T-REX 2X Long CRWV Daily Target ETF

CRWU

1-for-10

26923Q655

26923Y104

T-REX 2X Long CRCL Daily Target ETF

CCUP

1-for-10

26923Q614

26923Y203

T-REX 2X Long TTD Daily Target ETF

TTDU

1-for-10

26923Q499

26923Y302

T-REX 2X Long SBET Daily Target ETF

SBTU

1-for-10

26923Q218

26923Y401

T-REX 2X Long AXTI Daily Target ETF

AXTU

1-for-10

26923V878

26923Y500

T-REX 2X Long TE Daily Target ETF

TEUP

1-for-10

26923V738

26923Y609

T-REX 2X Long MSTR Daily Target ETF

MSTU

1-for-10

26923N173

26923Y708

As a result of the reverse share splits, shareholders of each Fund will receive one share for every ten shares held as indicated above. Accordingly, the number of each Fund’s issued, and outstanding shares will decrease proportionally, while the total value of each shareholder’s investment will remain unchanged, except for the value of fractional shares redeemed for cash.

Period

Number of Shares Owned

Hypothetical Net Asset Value

Total Market Value

Pre-Reverse Split

10,000

$1.00

$10,000.00

Post-Reverse Split

1,000

$10.00

$10,000.00

The reverse share splits will apply to shareholders of record as of the close of the Cboe BZX Exchange, Inc. (“Cboe BZX”) on August 21, 2026 (the “Record Date”). Shares of the Funds will begin trading on a split-adjusted basis on August 24, 2026 (the “Ex-Date”).

Redemption of Fractional Shares and Tax Consequences of the Reverse Split

As a result of the reverse split, a shareholder of a Fund could potentially hold fractional shares. However, fractional shares cannot be traded on CBOE BZX. Accordingly, each Fund will redeem any fractional shares for cash at the Fund’s split-adjusted net asset value (“NAV”) after the close of the markets on August 21, 2026. Such a redemption may have tax implications for shareholders, and a shareholder could recognize a gain or loss in connection with the redemption of their fractional shares. Other than the redemption of fractional shares, the reverse split will not result in a taxable transaction for holders of Fund shares. No transaction fee will be imposed on shareholders in connection with the redemption of fractional shares.

“Odd Lot” Unit

Also, because of the reverse splits, a Fund may have outstanding one aggregation of less than 10,000 shares to make a creation unit, or an “odd lot unit.” Thus, a Fund will provide one authorized participant with a one-time opportunity to redeem the odd lot unit at the split-adjusted NAV or the NAV on such date the authorized participant seeks to redeem the odd lot unit.

The Trust’s transfer agent will notify the Depository Trust Company (“DTC”) of the splits and instruct DTC to adjust each shareholder’s investment(s) accordingly. DTC is the registered owner of the Funds’ shares and maintains a record of the Funds’ record owners.

About REX Shares:

REX is an innovative ETF provider that specializes in alternative-strategy ETFs and ETNs. The firm created the MicroSectors™ and co-created the T-REX product lines of leveraged & inverse tools for traders and recently launched the first of a series of option-based income strategies. The firm is rooted in decades of experience building inventive solutions that solve for a range of specific challenges in investor and trader portfolios. Please visit www.rexshares.com for more information.

About Tuttle Capital Management, LLC (TCM):

TCM is a registered investment adviser and an industry leader in managing thematic ETFs that offer first of their kind exposures. Please visit www.tuttlecap.com for more information.

About REX Shares and Tuttle Capital Management (“T-REX”)

REX Shares and Tuttle Capital Management are co-developers of the T-REX family of exchange-traded funds, providing tactical investment exposure through leveraged and inverse daily strategies designed to help investors express short-term market views.

Toll free number for the fund: 844-802-4004.

SOURCE: Commonwealth Fund Services, Inc.

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