Grayscale Litecoin Trust Files 8-K on Equity Sales

TL;DR

Grayscale Litecoin Trust filed an 8-K for unregistered equity sales on 5/22/24.

AI Summary

On May 22, 2024, Grayscale Litecoin Trust (LTC) filed an 8-K report detailing unregistered sales of equity securities. The filing indicates that the trust, incorporated in Delaware, is involved in the crypto asset sector and has previously operated under the name Litecoin Investment Trust.

Why It Matters

This filing provides transparency regarding the trust's activities in issuing equity, which can impact the supply and demand dynamics of its shares.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of unregistered equity sales and does not indicate any immediate financial distress or significant operational changes.

Key Numbers

• 000-56310 — SEC File Number (Identifies the specific filing with the SEC.)
• 82-6868171 — IRS Employer Identification No. (Tax identification number for the trust.)

Key Players & Entities

• Grayscale Litecoin Trust (LTC) (company) — Registrant
• Delaware (jurisdiction) — State of Incorporation
• Litecoin Investment Trust (company) — Former Company Name
• May 22, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $3,375,351 — ate of 39,242.00782062 LTC representing $3,375,351. Grayscale Securities, LLC ("Grayscale

Filing Documents

• ltcn-20240522.htm (8-K) — 38KB
• 0000950170-24-065177.txt ( ) — 157KB
• ltcn-20240522.xsd (EX-101.SCH) — 29KB
• ltcn-20240522_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 Quarterly Report on Form 10-Q by Grayscale Litecoin Trust (LTC) (the "Trust"), the Trust issued 458,500 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 39,242.00782062 LTC representing $3,375,351. Grayscale Securities, LLC ("Grayscale Securities") acted as the Authorized Participant with respect to these distributions. As a result, there are 20,223,900 Shares issued and outstanding as of May 28, 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 Litecoin Trust (LTC) Date: May 28, 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