Grayscale Litecoin Trust Files 8-K on Equity Sales

TL;DR

Grayscale Litecoin Trust filed an 8-K for unregistered equity sales on 5/22/24.

AI Summary

On May 22, 2024, Grayscale Litecoin Trust (LTC) filed an 8-K report detailing unregistered sales of equity securities. The filing indicates that the trust, incorporated in Delaware, is involved in the crypto asset sector and has previously operated under the name Litecoin Investment Trust.

Why It Matters

This filing provides transparency regarding the trust's activities in issuing equity, which can impact the supply and demand dynamics of its shares.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of unregistered equity sales and does not indicate any immediate financial distress or significant operational changes.

Key Numbers

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

Key Players & Entities

• Grayscale Litecoin Trust (LTC) (company) — Registrant
• Delaware (jurisdiction) — State of Incorporation
• Litecoin Investment Trust (company) — Former Company Name
• May 22, 2024 (date) — Date of earliest event reported

FAQ

From the Filing

0000950170-24-065177.txt : 20240528 0000950170-24-065177.hdr.sgml : 20240528 20240528160239 ACCESSION NUMBER: 0000950170-24-065177 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20240522 ITEM INFORMATION: Unregistered Sales of Equity Securities FILED AS OF DATE: 20240528 DATE AS OF CHANGE: 20240528 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Grayscale Litecoin Trust (LTC) CENTRAL INDEX KEY: 0001732406 STANDARD INDUSTRIAL CLASSIFICATION: [6221] ORGANIZATION NAME: 09 Crypto Assets IRS NUMBER: 826868171 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-56310 FILM NUMBER: 24991644 BUSINESS ADDRESS: STREET 1: 290 HARBOR DRIVE STREET 2: 4TH FLOOR CITY: STAMFORD STATE: CT ZIP: 06902 BUSINESS PHONE: 212 668 1427 MAIL ADDRESS: STREET 1: 290 HARBOR DRIVE STREET 2: 4TH FLOOR CITY: STAMFORD STATE: CT ZIP: 06902 FORMER COMPANY: FORMER CONFORMED NAME: Litecoin Investment Trust DATE OF NAME CHANGE: 20180222 8-K 1 ltcn-20240522.htm 8-K 8-K false 0001732406 0001732406 2024-05-22 2024-05-22   UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 22, 2024     Grayscale Litecoin Trust (LTC) (Exact name of Registrant as Specified in Its Charter)     Delaware 000-56310 82-6868171 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)           c/o Grayscale Investments, LLC 290 Harbor Drive, 4th Floor   Stamford , Connecticut   06902 (Address of Principal Executive Offices)   (Zip Code)   Registrant’s Telephone Number, Including Area Code: 212 668-1427   N/A (Former Name or Former Address, if Changed Since Last Report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(g) of the Act: Title of each class   Trading Symbol(s)   Name of each exchange on which registered Grayscale Litecoin Trust (LTC) Shares   LTCN   N/A Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐     Item 3.02. Unregistered Sales of Equity Securities. Since the sales reported on the most recently filed Quarterly Report on Form 10-Q by Grayscale Litecoin Trust (LTC) (the “Trust”), the Trust issued 458,500 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 39,242.00782062 LTC representing $3,375,351. Grayscale Sec