Grayscale Stellar Lumens Trust Files 8-K on Equity Sales

TL;DR

Grayscale Stellar Lumens Trust (XLM) filed an 8-K for unregistered equity sales on 9/26.

AI Summary

On September 26, 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, with the report being filed as of October 1, 2024. The trust, formerly known as Stellar Lumens Investment Trust, is incorporated in Delaware and its fiscal year ends on September 30.

Why It Matters

This filing signals potential changes in the ownership structure or capital raising activities of the Grayscale Stellar Lumens Trust, which could impact its market position and investor base.

Risk Assessment

Risk Level: medium — Filings related to unregistered sales of equity securities can indicate complex financial maneuvers or regulatory considerations that may pose risks to investors.

Key Numbers

• 000-56434 — SEC File Number (Identifies the specific SEC filing for the company.)
• 83-6545098 — IRS Number (Company's Employer Identification Number.)

Key Players & Entities

• Grayscale Stellar Lumens Trust (XLM) (company) — Registrant
• Stellar Lumens Investment Trust (company) — Former Company Name
• Grayscale Investments, LLC (company) — Administrative Address Provider
• September 26, 2024 (date) — Date of Report
• October 1, 2024 (date) — Filing Date

FAQ

Key Financial Figures

• $648,787 — e of 6,574,134.8764865 XLM representing $648,787. Grayscale Securities, LLC ("Grayscale

Filing Documents

• gxlm-20240926.htm (8-K) — 39KB
• 0000950170-24-110819.txt ( ) — 155KB
• gxlm-20240926.xsd (EX-101.SCH) — 28KB
• gxlm-20240926_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 76,000 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 6,574,134.8764865 XLM representing $648,787. Grayscale Securities, LLC ("Grayscale Securities") acted as the Authorized Participant with respect to these distributions. As a result, there are 1,224,400 Shares issued and outstanding as of October 1, 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: October 1, 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