Hennessy Advisors, Inc. to Acquire the Assets of the Community Capital Management, LLC's Equity Funds

NOVATO, Calif., April 26, 2023 /PRNewswire/ -- Hennessy Advisors, Inc. (NASDAQ: HNNA) today 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 CCM Equity Funds have current assets of approximately $70 million. The transaction is expected to be completed during calendar year 2023.  Pending approval by shareholders of the CCM Equity Funds, upon completion of the transaction, the CCM Equity Funds will be reorganized into the Hennessy Stance ESG Large Cap ETF, which will be renamed the Hennessy Stance ESG ETF as of April 28, 2023 (referred to herein as the "Hennessy Stance ESG ETF"). Hennessy Advisors, Inc. 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.

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