UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On August 25, 2023, Teucrium Trading LLC (“Teucrium”), sponsor of ConvexityShares Trust (the “Trust”) and its series, ConvexityShares Daily 1.5x SPIKES Futures ETF and ConvexityShares 1x SPIKES Futures ETF (each a “Fund” and together, the “Funds”), received a notice (the “Notice”) from NYSE Regulation indicating that each Fund was found to be non-compliant with the continued listing requirements for Trust Issued Receipts listed on NYSE Arca Inc. (the “Exchange”). Specifically, NYSE Regulation found the Funds to be out of compliance with Rule 8.200-E(d)(2)(C), which requires each Fund to have an aggregate market value of all shares outstanding of at least $1,000,000 following the initial twelve-month period after commencement of the Fund’s trading on the Exchange. The Funds commenced trading on the Exchange on August 16, 2022.
In accordance with the Exchange procedures, the Trust submitted a written response to NYSE Regulation outlining the Trust’s plan to regain compliance with Rule 8.200-E(d)(2)(C). On September 8, 2023, the Trust received a letter from NYSE Regulation that granted the Trust a six-month “cure period” to regain compliance with the Exchange’s continued listing standards. In order for the Trust to regain compliance, each Fund will be required to demonstrate an aggregate market value of $1,000,000 for thirty or more consecutive trading days. If a Fund fails to demonstrate an increase in the Fund’s market value by the end of the “cure period,” NYSE Regulation may immediately initiate delisting proceedings. During the “cure period” the Exchange will make available on the consolidated tape a “below compliance” indicator attached to each Fund’s ticker.
Item 9.01 Financial Statement and Exhibits
| Exhibit No. | Description |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ConvexityShares Trust (Registrant) | |
| By: Teucrium Trading LLC | |
| its Sponsor | |
| /s/ Sal Gilbertie | |
| Date: September 14, 2023 |
Name: Sal Gilbertie Title: Chief Executive Officer |