Grayscale Zcash Trust Reports Unregistered Sales

TL;DR

Grayscale Zcash Trust filed an 8-K for unregistered equity sales. Watch for details.

AI Summary

Grayscale Zcash Trust (ZEC) filed an 8-K on November 20, 2024, reporting unregistered sales of equity securities. The filing covers events up to November 16, 2024, and was submitted under the 1934 Securities Exchange Act. The company, formerly known as Zcash Investment Trust, is incorporated in Delaware.

Why It Matters

This filing indicates potential new share issuances or transfers of Grayscale Zcash Trust, which could impact the trust's structure and the market for Zcash. Investors should monitor any associated disclosures for details on the nature and terms of these sales.

Risk Assessment

Risk Level: medium — Unregistered sales can sometimes indicate less transparency or different investor protections compared to registered offerings, warranting closer scrutiny.

Key Numbers

• 000-56433 — SEC File Number (Identifies the specific filing series for the company)
• 82-6646113 — IRS Number (Employer Identification Number for tax purposes)

Key Players & Entities

• Grayscale Zcash Trust (ZEC) (company) — Registrant
• Zcash Investment Trust (company) — Former Company Name
• 20241120 (date) — Filing Date
• 20241116 (date) — Report Date
• 1934 Act (legal_document) — SEC Act

FAQ

Key Financial Figures

• $200,164 — gate of 5,137.69169125 ZEC representing $200,164. Grayscale Securities, LLC ("Grayscale

Filing Documents

• zcsh-20241116.htm (8-K) — 41KB
• 0000950170-24-129233.txt ( ) — 156KB
• zcsh-20241116.xsd (EX-101.SCH) — 28KB
• zcsh-20241116_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 61,300 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 5,137.69169125 ZEC representing $200,164. Grayscale Securities, LLC ("Grayscale Securities") acted as the Authorized Participant with respect to these distributions. As a result, there are 4,685,000 Shares issued and outstanding as of November 20, 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: November 20, 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