Grayscale Stellar Lumens Trust Files 8-K on Equity Sales
Ticker: GXLM · Form: 8-K · Filed: Oct 29, 2024 · CIK: 1761325
| Field | Detail |
|---|---|
| Company | Grayscale Stellar Lumens Trust (Xlm) (GXLM) |
| Form Type | 8-K |
| Filed Date | Oct 29, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $500,277 |
| Sentiment | neutral |
Sentiment: neutral
Topics: unregistered-sales, equity-securities, 8-k
Related Tickers: XLM
TL;DR
Grayscale Stellar Lumens Trust (XLM) filed an 8-K for unregistered equity sales on 10/24.
AI Summary
On October 24, 2024, Grayscale Stellar Lumens Trust (XLM) filed an 8-K report detailing unregistered sales of equity securities. The filing, submitted on October 29, 2024, indicates a change in the company's reporting status. The trust, formerly known as Stellar Lumens Investment Trust, is incorporated in Delaware and has its principal executive offices in Stamford, Connecticut.
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 the market for Stellar Lumens (XLM).
Risk Assessment
Risk Level: medium — Filings related to unregistered equity sales can indicate potential dilution or changes in control, requiring closer scrutiny.
Key Numbers
- 000-56434 — SEC File Number (Identifies the specific SEC filing for the company.)
- 83-6545098 — IRS Employer Identification No. (Tax identification number for the trust.)
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
- October 24, 2024 (date) — Date of earliest event reported
- October 29, 2024 (date) — Filing Date
FAQ
What specific type of equity securities were sold?
The filing indicates 'Unregistered Sales of Equity Securities' but does not specify the exact type of securities in the provided text.
Were these sales made to accredited investors?
The filing mentions 'Unregistered Sales of Equity Securities,' which typically implies sales exempt from SEC registration, often to accredited investors, but this specific detail is not explicitly stated in the provided excerpt.
What is the purpose of these unregistered equity sales?
The provided text does not disclose the specific purpose behind the unregistered sales of equity securities.
When was the Grayscale Stellar Lumens Trust formerly known as Stellar Lumens Investment Trust?
The date of the name change from Stellar Lumens Investment Trust to Grayscale Stellar Lumens Trust was December 11, 2018.
What is the business address of Grayscale Stellar Lumens Trust?
The business address is 290 Harbor Drive, 4th Floor, Stamford, Connecticut 06902.
Filing Stats: 591 words · 2 min read · ~2 pages · Grade level 14.8 · Accepted 2024-10-29 16:05:54
Key Financial Figures
- $500,277 — e of 5,274,342.5215190 XLM representing $500,277. Grayscale Securities, LLC ("Grayscale
Filing Documents
- gxlm-20241024.htm (8-K) — 40KB
- 0000950170-24-118224.txt ( ) — 155KB
- gxlm-20241024.xsd (EX-101.SCH) — 28KB
- gxlm-20241024_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 61,100 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 5,274,342.5215190 XLM representing $500,277. Grayscale Securities, LLC ("Grayscale Securities") acted as the Authorized Participant with respect to these distributions. As a result, there are 1,354,100 Shares issued and outstanding as of October 29, 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 29, 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.