Grayscale Horizen Trust (ZEN) Reports Unregistered Sales
Ticker: HZEN · Form: 8-K · Filed: Dec 23, 2024 · CIK: 1748945
| Field | Detail |
|---|---|
| Company | Grayscale Horizen Trust (Zen) (HZEN) |
| Form Type | 8-K |
| Filed Date | Dec 23, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $4,712,299 |
| Sentiment | neutral |
Sentiment: neutral
Topics: unregistered-sales, equity-securities, company-name-change
Related Tickers: ZEN
TL;DR
ZEN filed an 8-K for unregistered equity sales; former name was Zen Investment Trust.
AI Summary
On December 18, 2024, Grayscale Horizen Trust (ZEN) filed an 8-K report detailing unregistered sales of equity securities. The filing indicates a change in the company's former name from Zen Investment Trust to Grayscale Horizen Trust (ZEN) on August 2, 2018.
Why It Matters
This filing informs investors about the nature and terms of unregistered equity sales, which can impact the trust's share structure and potentially its market value.
Risk Assessment
Risk Level: medium — Unregistered sales can sometimes indicate a need for capital or a change in the company's financial strategy, which may carry inherent risks for investors.
Key Players & Entities
- Grayscale Horizen Trust (ZEN) (company) — Registrant
- Zen Investment Trust (company) — Former company name
- December 18, 2024 (date) — Date of earliest event reported
- August 2, 2018 (date) — Date of former company name change
FAQ
What specific type of equity securities were sold unregistered?
The filing does not specify the exact type of equity securities sold unregistered, only that unregistered sales of equity securities occurred.
Were these sales made to accredited investors?
The filing does not explicitly state whether the unregistered sales were made to accredited investors.
What was the total dollar amount of the unregistered sales?
The filing does not disclose the total dollar amount of the unregistered sales.
What is the purpose of these unregistered sales?
The filing does not provide the purpose behind the unregistered sales of equity securities.
When did the company officially change its name from Zen Investment Trust?
The company's former name was Zen Investment Trust, and the date of the name change was August 2, 2018.
Filing Stats: 585 words · 2 min read · ~2 pages · Grade level 14.8 · Accepted 2024-12-23 16:03:02
Key Financial Figures
- $4,712,299 — te of 304,034.38984804 ZEN representing $4,712,299. Grayscale Securities, LLC ("Grayscale
Filing Documents
- hzen-20241218.htm (8-K) — 44KB
- 0000950170-24-139563.txt ( ) — 159KB
- hzen-20241218.xsd (EX-101.SCH) — 28KB
- hzen-20241218_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 Annual Report on Form 10-K by Grayscale Horizen Trust (ZEN) (the "Trust"), the Trust issued 3,565,200 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 304,034.38984804 ZEN representing $4,712,299. Grayscale Securities, LLC ("Grayscale Securities") acted as the Authorized Participant with respect to these distributions. As a result, there are 10,403,200 Shares issued and outstanding as of December 23, 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 Horizen Trust (ZEN) Date: December 23, 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.