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M&A / Property

Purpose Investments Announces Completion and Exchange Ratio for Merger, Special Capital Gain Distribution, and Related Matters

By The Northwire Desk — AI Analysis Feb 18, 2026 · 19:30 ETHC · 3.5 ETHER CAPITAL CORP.
ETHC · Price

Executive Summary

  • Purpose Investments completed the tax‑deferred merger of its Purpose Ether Staking Corp. ETF (ETHC.B) into the Purpose Ether ETF (ETHH.B) effective February 13, 2026.
  • ETF shareholders received Continuing Fund units at an exchange ratio of 0.40036618, with a total issuance of 6,422,340 ETHH.B units; ETHC.B shares were delisted on February 12, 2026.
  • A special notional capital‑gain distribution of $0.0307 per share (0.82% of NAV) was processed on the merger date for the 2026 tax year.

Key Details

  • Merger Mechanics – Each ETHC.B share was automatically converted into 0.40036618 units of ETHH.B; no cash or fractional units were paid.
  • Units Issued – The conversion resulted in 6,422,340 ETHH.B units being issued to former ETHC.B shareholders.
  • Delisting – ETHC.B ETF shares ceased trading on Cboe Canada at the close of business on February 12, 2026.
  • Exchange Ratio Table – Provided in release (see above) confirming conversion rate and total units.
  • Special Notional Capital‑Gain Distribution – $0.0307 per ETHC.B share; NAV per share on Feb 13, 2026 was $3.76, representing 0.82% of NAV; distribution type: notional (non‑cash).
  • Ex‑Distribution Date – February 13, 2026; taxable breakdown to be reported to brokers in early 2027.
  • Purpose Statement – Merger creates a single, scaled spot Ether ETF offering direct exposure plus staking rewards via proprietary infrastructure.

Notable Quotes

“We are pleased to welcome ETHC.B shareholders to ETHH.B. We believe this merger offers meaningful benefits for investors,” — Vlad Tasevski, Chief Innovation Officer, Purpose Investments.

Read the original news release →