Current Report Filing (8-k)
April 29 2020 - 6:12AM
Edgar (US Regulatory)
0001327068
false
0001327068
2020-04-28
2020-04-28
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xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
April 28, 2020
UNITED STATES OIL FUND, LP
(Exact name of registrant as specified in its
charter)
Delaware
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001-32834
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20-2830691
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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1850 Mt. Diablo Boulevard, Suite 640
Walnut
Creek, California 94596
(Address of principal executive offices) (Zip
Code)
(510) 522-9600
Registrant’s telephone number, including area
code
Not Applicable
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):
☐ Written
communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section
12(b) of the Act:
Title of each class:
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Trading Symbol(s)
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Name of each exchange on which registered:
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Shares of United States Oil Fund, LP
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USO
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NYSE Arca, Inc.
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Item 8.01. Other Events
On April 28, 2020 after the close of
trading on NYSE Arca, Inc., the United States Oil Fund, LP (the “Fund”), effected a one-for-eight reverse share
split, and post-split shares of the Fund begin trading on April 29, 2020. The Fund previously announced the reverse share
split in its press release dated April 22, 2020. As a result of the reverse share split, every eight pre-split shares of the
Fund were automatically exchanged for one post-split share. Immediately prior to the reverse share split there were
1,482,900,000 shares of the Fund issued and outstanding, each representing a net asset value (“NAV”) of $2.04.
Immediately after the reverse share split and pre-settlement, the number of issued and outstanding shares of the Fund
decreased to 185,362,500, not accounting for the treatment of fractional shares, and the net asset value relating to each
share increased to $16.35. Shareholders of the Fund otherwise entitled to fractional shares as a result of the reverse share
split will receive cash in lieu of such fractional shares. In connection with the reverse share split, the CUSIP number of
the Fund shares changed to 91733T505. The Fund’s ticker symbol, “USO”, remains the same.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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UNITED STATES OIL FUND, LP
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By:
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United States Commodity Funds LLC, its general partner
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Date: April 28, 2020
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By:
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/s/ John P. Love
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Name:
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John P. Love
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Title:
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President and CEO
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