Grayscale Zcash Trust Reports Unregistered Sales

TL;DR

Grayscale Zcash Trust sold unregistered securities on 6/6/24.

AI Summary

On June 6, 2024, Grayscale Zcash Trust (ZEC) filed an 8-K report detailing unregistered sales of equity securities. The filing indicates a transaction related to the trust's operations, though specific details on the number of securities or the dollar amounts involved in these unregistered sales are not provided in this excerpt.

Why It Matters

This filing signals potential changes in the trust's share structure or capital raising activities, which could impact existing investors.

Risk Assessment

Risk Level: medium — Unregistered sales can sometimes indicate regulatory scrutiny or less transparent capital raising, posing potential risks to investors.

Key Numbers

• 000-56433 — Commission File Number (Identifies the specific SEC filing record for the registrant.)
• 82-6646113 — IRS Employer Identification No. (Tax identification number for the registrant.)

Key Players & Entities

• Grayscale Zcash Trust (ZEC) (company) — Registrant
• June 6, 2024 (date) — Date of earliest event reported
• 212 668-1427 (phone_number) — Registrant's Telephone Number
• Grayscale Investments, LLC (company) — Related entity for address

FAQ

Key Financial Figures

• $100,210 — gate of 3,968.18330148 ZEC representing $100,210. Grayscale Securities, LLC ("Grayscale

Filing Documents

• zcsh-20240606.htm (8-K) — 39KB
• 0000950170-24-071857.txt ( ) — 155KB
• zcsh-20240606.xsd (EX-101.SCH) — 28KB
• zcsh-20240606_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 Zcash Trust (ZEC) (the "Trust"), the Trust issued 46,800 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 3,968.18330148 ZEC representing $100,210. Grayscale Securities, LLC ("Grayscale Securities") acted as the Authorized Participant with respect to these distributions. As a result, there are 4,400,100 Shares issued and outstanding as of June 11, 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 Zcash Trust (ZEC) Date: June 11, 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