Grayscale Litecoin Trust Files 8-K on Unregistered Sales
Ticker: LTCN · Form: 8-K · Filed: Jul 19, 2024 · CIK: 1732406
| Field | Detail |
|---|---|
| Company | Grayscale Litecoin Trust (Ltc) (LTCN) |
| Form Type | 8-K |
| Filed Date | Jul 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $3,196,172 |
| Sentiment | neutral |
Sentiment: neutral
Topics: unregistered-sales, sec-filing, crypto
Related Tickers: GBTC
TL;DR
Grayscale Litecoin Trust (LTC) filed an 8-K for unregistered equity sales on July 16, 2024.
AI Summary
On July 16, 2024, Grayscale Litecoin Trust (LTC) filed an 8-K report detailing unregistered sales of equity securities. The filing indicates a transaction occurred on July 16, 2024, related to the trust's operations. Specific details regarding the nature or volume of these unregistered sales are not provided in this summary section of the filing.
Why It Matters
This filing signals potential changes in the trust's share structure or investor base, which could impact liquidity and future performance of Grayscale Litecoin Trust (LTC).
Risk Assessment
Risk Level: medium — Unregistered sales can sometimes indicate regulatory scrutiny or complex financial maneuvers that may carry inherent risks.
Key Numbers
- 000-56310 — Commission File Number (Identifies the specific SEC filing record for the company.)
- 82-6868171 — IRS Employer Identification No. (Tax identification number for the trust.)
Key Players & Entities
- Grayscale Litecoin Trust (LTC) (company) — Registrant
- July 16, 2024 (date) — Date of earliest event reported
- 212 668-1427 (phone_number) — Registrant's Telephone Number
- Delaware (jurisdiction) — State or Other Jurisdiction of Incorporation
- Grayscale Investments, LLC (company) — Address of Principal Executive Offices
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' is the item information.
What was the date of the earliest event reported in this 8-K?
The date of the earliest event reported is July 16, 2024.
Who is the principal executive office address for Grayscale Litecoin Trust (LTC)?
The principal executive offices are located at c/o Grayscale Investments, LLC, 290 Harbor Drive, 4th Floor, Stamford, Connecticut 06902.
What is the Commission File Number for Grayscale Litecoin Trust (LTC)?
The Commission File Number is 000-56310.
What is the IRS Employer Identification Number for the trust?
The IRS Employer Identification Number is 82-6868171.
Filing Stats: 585 words · 2 min read · ~2 pages · Grade level 14.7 · Accepted 2024-07-19 16:01:59
Key Financial Figures
- $3,196,172 — ate of 46,563.27122114 LTC representing $3,196,172. Grayscale Securities, LLC ("Grayscale
Filing Documents
- ltcn-20240716.htm (8-K) — 38KB
- 0000950170-24-084923.txt ( ) — 157KB
- ltcn-20240716.xsd (EX-101.SCH) — 29KB
- ltcn-20240716_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 546,000 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 46,563.27122114 LTC representing $3,196,172. Grayscale Securities, LLC ("Grayscale Securities") acted as the Authorized Participant with respect to these distributions. As a result, there are 21,565,200 Shares issued and outstanding as of July 19, 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 19, 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.