https://www.sec.gov/Archives/edgar/data/1281790/000116204418000182/frankn14201803.htmExcerpt:
Q. When will the Reorganization occur?
A. The Reorganization is expected to take effect on or about May 11, 2018, or as soon as possible thereafter.
For any of you who were investors of the Pennsylvania Event Driven Fund and still are (like me) in the related reorganized Quaker Fund, here is the SEC link advising those Pennsylvania Event Driven Fund shareholders that they were grandfathered from paying the Quaker Funds load. You may need this information when the fund is reorganized again and is transferred to a new transfer agent.
http://www.sec.gov/Archives/edgar/data/870355/000145078910000169/quaker497forn14.htmHere is the excerpt from Quaker reorganization SEC filing with the Pennsylvania Event Driven Fund:
Comparison of Sales Load and Distribution Arrangements
The Acquired Fund currently offers one class of shares, the Investor Class, which does not charge a front-end sales load at the time of purchase or a contingent-deferred sales load at the time of redemption.
The Surviving Fund offers three classes of shares: Class A, Class C, and Institutional Class. The Surviving Fund’s Class A Shares charge a front-end load of 5.50% at the time of purchase.
This load will be waived for the Acquired Fund shareholders who receive Class A Shares of the Surviving Fund in connection with the Reorganization. The front-end sales load applicable to Class A Shares of the Surviving Fund will not be charged for the shares received in the Reorganization or for future purchases of shares of the Surviving Fund made by shareholders of the Acquired Fund.The Surviving Fund’s Class C Shares do not charge front-end or contingent deferred sales loads. The Surviving Fund’s Class A and Class C Shares have each adopted plans pursuant to Rule 12b-1 under the 1940 Act. Pursuant to the plans, the Class A and Class C Shares of the Surviving Fund may pay certain third parties fees at an annual rate of up to 0.25% and 1.00%, respectively, of their average daily net assets for the provision of distribution and/or shareholder support services. The Surviving Fund’s Institutional Class Shares do not charge front-end or contingent deferred sales loads, and have not adopted a plan pursuant to Rule 12b-1.
Comments
Excerpts:
Q. Are there differences in front-end sales loads or contingent deferred sales charges?
A.No share class of the Existing Fund or New Fund have or will charge a contingent deferred sales charge. Neither Institutional Class shares of the Existing Fund nor Institutional Class shares of the New Fund have or will charge a front-end sales load. Class C shares of the Existing Fund do not charge a front-end sales load, and Class A shares of the Existing Fund charge a maximum front-end sales load of 5.50%. Class A shares of the New Fund, which will be received by Class A and Class C shareholders of the Existing Fund after the Reorganization, will charge a maximum front-end sales load of 5.50%.
No Existing Fund shareholder will be charged a load for the exchange of their shares in connection with Reorganization. Moreover, no Existing Fund Class C shareholders who receive Class A shares of the New Fund following the Reorganization will be subject to Class A sales loads for additional purchases of the New Fund.
and
Sales Charges.
As discussed above under Fees and Expenses, both Existing Fund and New Fund Class A shares are subject to a maximum initial sales charge of 5.50%. The remaining share classes of the New Fund and Existing Fund share classes are offered without an initial sales charge. Existing Fund Class C shareholders who receive Class A shares of the New Fund following the Reorganization will not be charged any Class A upfront sales loads on additional purchases of the New Fund.