Grayscale Stellar Lumens Trust (XLM) Reports Unregistered Sales

TL;DR

XLM filed 8-K for unregistered sales, name change back in 2018.

AI Summary

Grayscale Stellar Lumens Trust (XLM) filed an 8-K on August 21, 2024, reporting unregistered sales of equity securities as of August 17, 2024. The filing indicates a change in the company's name from Stellar Lumens Investment Trust to Grayscale Stellar Lumens Trust (XLM) on December 11, 2018. The trust is incorporated in Delaware and its principal executive offices are located in Stamford, Connecticut.

Why It Matters

This filing details unregistered sales of equity securities, which could impact the trust's share structure and potentially signal new investor activity.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of unregistered sales and a historical name change, not indicating immediate financial distress or significant operational changes.

Key Players & Entities

• Grayscale Stellar Lumens Trust (XLM) (company) — Registrant
• Stellar Lumens Investment Trust (company) — Former Company Name
• August 17, 2024 (date) — Date of earliest event reported
• August 21, 2024 (date) — Date of Report
• December 11, 2018 (date) — Date of Name Change
• 212 668-1427 (phone_number) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $210,074 — e of 2,194,142.9793237 XLM representing $210,074. Grayscale Securities, LLC ("Grayscale

Filing Documents

• gxlm-20240817.htm (8-K) — 40KB
• 0000950170-24-099491.txt ( ) — 155KB
• gxlm-20240817.xsd (EX-101.SCH) — 28KB
• gxlm-20240817_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 25,300 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 2,194,142.9793237 XLM representing $210,074. Grayscale Securities, LLC ("Grayscale Securities") acted as the Authorized Participant with respect to these distributions. As a result, there are 1,148,400 Shares issued and outstanding as of August 21, 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: August 21, 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.

View Full Filing

View this 8-K filing on SEC EDGAR