Tidal Commodities Trust I Files Amendment to S-1 Registration Statement

TL;DR

<b>Tidal Commodities Trust I has filed an amendment to its S-1 registration statement, indicating a continuous offering of securities.</b>

AI Summary

Tidal Commodities Trust I (DEFI) filed a Amended IPO Registration (S-1/A) with the SEC on February 20, 2024. Tidal Commodities Trust I filed a Pre-Effective Amendment No. 4 to its Form S-1 Registration Statement. The filing was made on February 20, 2024, with the SEC. The company is incorporated in Delaware and has its principal executive offices in Milwaukee, WI. The filing indicates the company is a non-accelerated filer, smaller reporting company, and emerging growth company. The offering is being made on a delayed or continuous basis pursuant to Rule 415.

Why It Matters

For investors and stakeholders tracking Tidal Commodities Trust I, this filing contains several important signals. This amendment signals ongoing efforts by Tidal Commodities Trust I to register securities for public sale, suggesting a potential upcoming offering or continued sales activity. The classification as a non-accelerated filer, smaller reporting company, and emerging growth company provides insight into the company's size and regulatory status, potentially impacting disclosure requirements and investor perception.

Risk Assessment

Risk Level: low — Tidal Commodities Trust I shows low risk based on this filing. The filing is an amendment to a registration statement, which is a standard procedural step for companies planning to offer securities, and does not contain new financial performance data or significant operational updates.

Analyst Insight

Monitor future filings for the effectiveness of the registration statement and details regarding the commencement of the securities offering.

Key Numbers

• 333-276254 — SEC File Number (Registration Number)
• 4 — Amendment Number (Pre-Effective Amendment Number)
• 2024-02-20 — Filing Date (Date filed with SEC)
• 2024-02-16 — Date as of Change (Date of change in filing)

Key Players & Entities

• Tidal Commodities Trust I (company) — Registrant
• Securities and Exchange Commission (regulator) — Filing body
• Delaware (jurisdiction) — State of incorporation
• Milwaukee, WI (location) — Principal executive offices
• Guillermo Trias (person) — Chief Executive Officer
• Tidal Investments LLC (company) — Registrant's principal executive offices
• Michael Pellegrino (person) — Copy to
• Peter J. Shea (person) — Legal counsel

FAQ

Industry Context

The filing pertains to a registration statement for securities, typical for companies seeking to raise capital through public offerings.

Regulatory Implications

The filing is made under the Securities Act of 1933, which governs the registration and sale of securities in the United States.

What Investors Should Do

1. Review the full S-1/A filing for details on the securities being offered and the terms of the offering.
2. Track subsequent SEC filings for updates on the registration statement's effectiveness and the commencement of sales.
3. Research Tidal Commodities Trust I's business model and investment strategy as described in the registration statement.

Year-Over-Year Comparison

This is an amendment to a previously filed registration statement, indicating ongoing procedural steps rather than a new filing.

Key Financial Figures

• $51 — the Share, assuming an initial price of $51.49, is $1.19 or 2.31% of the selling pr
• $1.19 — assuming an initial price of $51.49, is $1.19 or 2.31% of the selling price. For more
• $20,247,000 — the Fund&rsquo;s total net assets were $20,247,000. As of February 12, 2024, the Fund&rsqu

Filing Documents

• tct_s1a-021624.htm (S-1/A) — 3018KB
• ex23-2.htm (EX-23.2) — 5KB
• ex23-3.htm (EX-23.3) — 2KB
• ex-107.htm (EX-FILING FEES) — 21KB
• ex23-2_img001.jpg (GRAPHIC) — 9KB
• ex23-2_img002.jpg (GRAPHIC) — 5KB
• ex23-2_img003.jpg (GRAPHIC) — 12KB
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• tc_001.jpg (GRAPHIC) — 44KB
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• 0001999371-24-002489.txt (&nbsp;) — 3788KB

From the Filing

TO FORM S-1 As filed with the Securities and Exchange Commission on February 16 , 2024 Registration No . 333-276254 UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON , D . C . 20549 PRE-EFFECTIVE AMENDMENT NO. 4 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Tidal Commodities Trust I (Registrant) Delaware (State or other jurisdiction of incorporation or organization) 6799 (Primary Standard Industrial Classification Code Number) 92-6468665 (I.R.S. Employer Identification No.) c/o Tidal Investments LLC (f/k/a Toroso Investments, LLC) 234 West Florida Street Suite 203 Milwaukee , WI 53204 Phone: (844) 986-7700 (Address, including zip code, and telephone number, including area code, of Registrant&rsquo;s principal executive offices) Guillermo Trias Chief Executive Officer Tidal Investments LLC 234 West Florida Street, Suite 203 Milwaukee, WI 53204 Phone: (844) 986-7700 (Name, address, including zip code, and telephone number, including area code, of agent for service) Copy to: Michael Pellegrino Tidal Investments LLC 234 West Florida Street, Suite 203 Milwaukee, WI 53204 (844) 986-7700 Peter J. Shea K&L Gates, LLP 599 Lexington Avenue New York, NY 10022 Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this Registration Statement. If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act. Large accelerated filer Accelerated reporting company Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act or until this Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine. The information in this prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. Preliminary Prospectus dated [ ], 2024 Hashdex Bitcoin ETF Hashdex Bitcoin ETF (f/k/a Hashdex Bitcoin Futures ETF, the &ldquo;Fund&rdquo; or &ldquo;DEFI&rdquo;) is designed to provide investors with price exposure to the bitcoin market. The Fund issues shares (&ldquo;Shares&rdquo;) that trade on NYSE Arca stock exchange (&ldquo;NYSE Arca&rdquo;) under the symbol &ldquo;DEFI&rdquo;. Shares can be purchased and sold by investors through their broker-dealer. Under its current investment objective, the Fund may hold bitcoin and bitcoin futures contracts. Purchasing Shares of the Fund is subject to the risks of bitcoin as well as the additional risks of investing in the Fund. The Fund&rsquo;s investment objective is for changes in the Shares&rsquo; net asset value (&ldquo;NAV&rdquo;) to reflect the daily changes of the price of the Nasdaq Bitcoin Reference Price - Settlement (NQBTCS) (the &ldquo;Benchmark&rdquo;), less expenses from the Fund&rsquo;s operations. The Benchmark is designed to track the pr

View Full Filing

View this S-1/A filing on SEC EDGAR