Disclosure:
This report has been prepared solely for informational purposes and does not represent investment advice or provide an opinion regarding the fairness of any transaction to any and all parties nor does it constitute an offer, solicitation or a recommendation to buy or sell any particular security or instrument or to adopt any investment strategy. This report is not research and should not be treated as research. This report does not represent valuation judgments with respect to any financial instrument, issuer, security or sector that may be described or referenced herein and does not represent a formal or official view of Stone Ridge. It should not be assumed that Stone Ridge will make investment recommendations in the future that are consistent with the views expressed herein or use any or all of the techniques or methods of analysis described herein in managing client accounts. Stone Ridge and its affiliates may have positions (long or short) or engage in securities transactions that are not consistent with the information and views expressed in this report. Nothing contained herein constitutes investment, legal, tax or other advice nor is it to be relied on in making an investment or other decision. Legal advice can only be provided by legal counsel. Before deciding to proceed with any investment, investors should review all relevant investment considerations and consult with their own advisors. Any decision to invest should be made solely in reliance upon the definitive offering documents for the investment. Stone Ridge shall have no liability to any third party in respect of this report or any actions taken or decisions made as a consequence of the information set forth herein. By accepting this report, the recipient acknowledges its understanding and acceptance of the foregoing terms.
