Subsequent Events

6 Months Ended

Mar. 31, 2023

(13)	Subsequent Events

The Company has evaluated subsequent events through the date these financial statements were issued and has concluded that no material events occurred during this period that require recognition or disclosure, other than disclosed below.

On April 26, 2023, the Company announced that it has signed a definitive agreement with Community Capital Management, LLC (“CCM”) related to the management of the CCM Core Impact Equity Fund and the CCM

Small/Mid-Cap

Impact Value Fund (the “CCM Equity Funds”). The Company filed a Current Report on Form

8-K

regarding this transaction on April 26, 2023.

The definitive agreement includes customary representations, warranties, and covenants of the parties to the agreement. It provides for payment by the Company to be made upon closing equal to 1.25% of the aggregate current net asset value of the CCM Equity Funds measured as of the close of business two trading days prior to the closing date of the transaction. The Company expects to complete the transaction during calendar 2023.

Upon completion of the transaction, the CCM Equity Funds will be reorganized into the Hennessy Stance ESG ETF. The Company is the investment advisor of the Hennessy Stance ESG ETF and Stance Capital, LLC and Vident Investment Advisory, LLC are investment

sub-advisors

to the Hennessy Stance ESG ETF.

The transaction is subject to customary closing conditions, including the approval of the CCM Equity Funds shareholders.