Grayscale Stellar Lumens Trust Files 8-K on Equity Sales
Ticker: GXLM · Form: 8-K · Filed: Jun 3, 2024 · CIK: 1761325
| Field | Detail |
|---|---|
| Company | Grayscale Stellar Lumens Trust (Xlm) (GXLM) |
| Form Type | 8-K |
| Filed Date | Jun 3, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $185,588 |
| Sentiment | neutral |
Sentiment: neutral
Topics: unregistered-sales, equity-securities, grayscale
Related Tickers: XLM
TL;DR
Grayscale Stellar Lumens Trust (XLM) filed an 8-K for unregistered equity sales on May 29, 2024.
AI Summary
On May 29, 2024, Grayscale Stellar Lumens Trust (XLM) filed an 8-K report detailing unregistered sales of equity securities. The filing indicates a change in the company's status or operations, though specific details of the sales or their impact are not provided in this excerpt.
Why It Matters
This filing signals potential changes in the ownership structure or capital raising activities of the Grayscale Stellar Lumens Trust, which could affect its market position and investor base.
Risk Assessment
Risk Level: medium — Unregistered sales of equity securities can sometimes indicate financial distress or a need for capital, which carries inherent risks for investors.
Key Players & Entities
- Grayscale Stellar Lumens Trust (XLM) (company) — Registrant
- May 29, 2024 (date) — Date of earliest event reported
- 212 668-1427 (phone_number) — Registrant's Telephone Number
- Delaware (jurisdiction) — State of Incorporation
- Grayscale Investments, LLC (company) — Address of Principal Executive Offices
FAQ
What specific type of equity securities were sold?
The filing states 'Unregistered Sales of Equity Securities' but does not specify the exact type of securities in the provided excerpt.
Were these sales part of a private placement or other exemption from registration?
The filing explicitly mentions 'Unregistered Sales of Equity Securities,' implying they were conducted under an exemption from registration requirements.
What was the date of the earliest event reported in this 8-K?
The earliest event reported was on May 29, 2024.
Who is the principal executive office of the Grayscale Stellar Lumens Trust?
The principal executive offices are located at c/o Grayscale Investments, LLC, 290 Harbor Drive, 4th Floor, Stamford, Connecticut 06902.
What is the IRS Employer Identification Number for Grayscale Stellar Lumens Trust?
The IRS Employer Identification Number is 83-6545098.
Filing Stats: 591 words · 2 min read · ~2 pages · Grade level 14.7 · Accepted 2024-06-03 16:07:03
Key Financial Figures
- $185,588 — e of 1,726,677.3547714 XLM representing $185,588. Grayscale Securities, LLC ("Grayscale
Filing Documents
- gxlm-20240529.htm (8-K) — 39KB
- 0000950170-24-067961.txt ( ) — 155KB
- gxlm-20240529.xsd (EX-101.SCH) — 28KB
- gxlm-20240529_htm.xml (XML) — 5KB
02. Unregistered Sales of Equity Securities
Item 3.02. Unregistered Sales of Equity Securities. Since the sales reported on the most recently filed Current Report on Form 8-K by Grayscale Stellar Lumens Trust (XLM) (the "Trust"), the Trust issued 19,800 Shares at varying prices determined by reference to its NAV per Share to selected "accredited investors," within the meaning of Rule 501 of Regulation D under the Securities Act of 1933, as amended (the "Securities Act"), in private placement transactions exempt from the registration requirements of the Securities Act pursuant to Rule 506(c) thereunder for an aggregate of 1,726,677.3547714 XLM representing $185,588. Grayscale Securities, LLC ("Grayscale Securities") acted as the Authorized Participant with respect to these distributions. As a result, there are 1,069,200 Shares issued and outstanding as of June 3, 2024. Because Shares have been, and continue to be, created and issued on a periodic basis, a "distribution," as such term is used in the Securities Act, may be occurring from time to time. As a result, Grayscale Securities, as Authorized Participant facilitating the creation of Shares and as distributor and marketer, may be deemed an "underwriter" under Section 2(a)(11) of the Securities Act. No underwriting discounts or commissions were paid to Grayscale Securities with respect to such sales.
SIGNATURES
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 thereunto duly authorized. Grayscale Investments, LLC as Sponsor of Grayscale Stellar Lumens Trust (XLM) Date: June 3, 2024 By: /s/ Edward McGee Edward McGee Chief Financial Officer * * The Registrant is a trust and the identified person signing this report is signing in their capacity as an authorized officer of Grayscale Investments, LLC, the Sponsor of the Registrant.