The CrossingBridge Pre-Merger SPAC ETF operates as an actively managed exchange-traded fund. Typically, it dedicates a minimum of 80% of its investable capital, including any funds acquired through borrowing, to equity and unit interests of Special Purpose Acquisition Companies (SPACs). The fund specifically targets SPACs that have not yet completed a shareholder-approved merger or business combination. Its strategy focuses on acquiring shares of publicly listed SPACs that, at the point of purchase, are trading at a price equal to or less than the pro-rata cash held within the SPAC's trust account. This fund is structured as a non-diversified investment vehicle.