Listed Funds Trust - RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ)

Under normal market conditions, the fund seeks to invest primarily in units made up of common stock, warrants and rights of U.S.-listed special purpose acquisition companies ("SPACs"). In seeking to achieve the fund"s investment objective, the sub-adviser will monitor the fund"s portfolio and adjust positions based on changes in expectations of the investments or the availability of better alternatives. At least 80% of the fund"s net assets, plus borrowings for investment purposes, will be invested in Pre-Merger SPACs. The fund is non-diversified.