M&A - Thrivent Core Funds

Form Type: 497

Filing Date: 2025-06-02

Corporate Action: Merger

Type: New

Accession Number: 000119312525132332

Filing Summary: On May 20, 2025, the Board of Trustees of Thrivent Core Funds approved the conversion of Thrivent Core Small Cap Value Fund into a newly-organized exchange-traded fund (ETF) under Thrivent ETF Trust. This conversion is expected to take place in the fourth quarter of 2025, contingent upon shareholder approval. The reorganization will allow the ETF to maintain a similar investment strategy, management team, and adviser as the Mutual Fund. The ETF will not begin operations prior to the Conversion, and its shares are not yet available for public trading. Shareholders will receive a combined proxy statement/prospectus before the Conversion, which will detail the process and include information on a special shareholder meeting. This Conversion is anticipated to qualify as a tax-free reorganization for federal tax purposes, thus shareholders will not recognize any gain or loss on the exchange of their Mutual Fund shares for ETF shares, aside from any cash from liquidation of fractional shares.