Grayscale Litecoin Trust Reports Unregistered Sales
Ticker: LTCN · Form: 8-K · Filed: Jul 3, 2024 · CIK: 1732406
| Field | Detail |
|---|---|
| Company | Grayscale Litecoin Trust (Ltc) (LTCN) |
| Form Type | 8-K |
| Filed Date | Jul 3, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1,674,021 |
| Sentiment | neutral |
Sentiment: neutral
Topics: unregistered-sales, trust-filing, sec-filing
TL;DR
Grayscale Litecoin Trust filed an 8-K for unregistered equity sales as of June 29, 2024.
AI Summary
On June 29, 2024, Grayscale Litecoin Trust (LTC) filed an 8-K report detailing unregistered sales of equity securities. The filing, submitted on July 3, 2024, pertains to the period ending June 29, 2024. The Trust, incorporated in Delaware, is managed by Grayscale Investments, LLC.
Why It Matters
This filing indicates potential new share issuances or transfers within the Grayscale Litecoin Trust, which could impact the trust's structure and the market for its shares.
Risk Assessment
Risk Level: medium — Unregistered sales can sometimes indicate complex or less transparent transactions, requiring further scrutiny.
Key Numbers
- 000-56310 — SEC File Number (Identifies the specific filing for Grayscale Litecoin Trust)
- 82-6868171 — IRS Employer Identification No. (Tax identification for the Trust)
Key Players & Entities
- Grayscale Litecoin Trust (LTC) (company) — Registrant
- Grayscale Investments, LLC (company) — Manager
- June 29, 2024 (date) — Period of report
- July 3, 2024 (date) — Filing date
FAQ
What specific type of unregistered sales of equity securities are being reported?
The filing does not specify the exact nature of the unregistered sales, only that they occurred and are being reported under Item 3.10.
Who is the primary entity responsible for managing the Grayscale Litecoin Trust?
Grayscale Investments, LLC is listed as the entity responsible for managing the Grayscale Litecoin Trust (LTC).
What is the jurisdiction of incorporation for Grayscale Litecoin Trust (LTC)?
Grayscale Litecoin Trust (LTC) is incorporated in Delaware.
What is the SEC file number associated with this Grayscale Litecoin Trust filing?
The SEC file number for Grayscale Litecoin Trust is 000-56310.
On what date was this Form 8-K report filed with the SEC?
This Form 8-K report was filed with the SEC on July 3, 2024.
Filing Stats: 585 words · 2 min read · ~2 pages · Grade level 14.7 · Accepted 2024-07-03 16:05:14
Key Financial Figures
- $1,674,021 — ate of 23,083.52559004 LTC representing $1,674,021. Grayscale Securities, LLC ("Grayscale
Filing Documents
- ltcn-20240629.htm (8-K) — 38KB
- 0000950170-24-081493.txt ( ) — 157KB
- ltcn-20240629.xsd (EX-101.SCH) — 29KB
- ltcn-20240629_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 270,400 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 23,083.52559004 LTC representing $1,674,021. Grayscale Securities, LLC ("Grayscale Securities") acted as the Authorized Participant with respect to these distributions. As a result, there are 21,019,200 Shares issued and outstanding as of July 3, 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: July 3, 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.