IMAX Corporation (IMAX) has released an update.
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Ether Capital Corporation is set to transform into a staking Ether exchange-traded fund (ETF) managed by Purpose Investments Inc., following a framework agreement. The deal includes a $1.5 million payment from Purpose for managing the Fund and waiving management fees for the initial three months post-conversion. This strategic move aims to align the trading price of the ETF shares more closely with the net asset value, potentially reducing the current 36% market discount noted as of April 30, 2024.
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