Grayscale Litecoin Trust Reports Unregistered Sales

TL;DR

Grayscale Litecoin Trust filed an 8-K for unregistered sales - could mean new shares.

AI Summary

Grayscale Litecoin Trust (LTC) filed an 8-K on June 14, 2024, reporting unregistered sales of equity securities as of June 11, 2024. The filing pertains to the trust's operations and its status as a Delaware incorporated entity with a fiscal year end of June 30.

Why It Matters

This filing indicates potential new share creations or redemptions within the Grayscale Litecoin Trust, which could impact the trust's net asset value and the supply of its shares.

Risk Assessment

Risk Level: medium — Unregistered sales can sometimes indicate complex transactions or regulatory considerations that may carry inherent risks.

Key Numbers

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

Key Players & Entities

• Grayscale Litecoin Trust (LTC) (company) — Registrant
• June 11, 2024 (date) — Date of earliest event reported
• June 14, 2024 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation
• Grayscale Investments, LLC (company) — Address of Principal Executive Offices

FAQ

Key Financial Figures

• $1,786,628 — ate of 21,937.20826873 LTC representing $1,786,628. Grayscale Securities, LLC ("Grayscale

Filing Documents

• ltcn-20240611.htm (8-K) — 38KB
• 0000950170-24-073617.txt ( ) — 157KB
• ltcn-20240611.xsd (EX-101.SCH) — 29KB
• ltcn-20240611_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 Litecoin Trust (LTC) (the "Trust"), the Trust issued 256,600 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 21,937.20826873 LTC representing $1,786,628. Grayscale Securities, LLC ("Grayscale Securities") acted as the Authorized Participant with respect to these distributions. As a result, there are 20,480,500 Shares issued and outstanding as of June 14, 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: June 14, 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