Grayscale Litecoin Trust Files 8-K on Equity Sales
Ticker: LTCN · Form: 8-K · Filed: 2024-06-26T00:00:00.000Z
Sentiment: neutral
Topics: unregistered-securities, equity-sale, sec-filing
TL;DR
Grayscale Litecoin Trust (LTC) filed an 8-K for unregistered equity sales on 6/21.
AI Summary
On June 21, 2024, Grayscale Litecoin Trust (LTC) filed an 8-K report detailing unregistered sales of equity securities. The filing, submitted on June 26, 2024, pertains to the period ending June 21, 2024, and was made under the 1934 Securities Exchange Act.
Why It Matters
This filing indicates potential new equity issuances by Grayscale Litecoin Trust, which could impact the trust's share structure and the market for Litecoin.
Risk Assessment
Risk Level: medium — Unregistered sales of equity securities can sometimes indicate a need for capital or a change in the trust's structure, which warrants investor attention.
Key Numbers
- 000-56310 — SEC File Number (Identifies the specific filing with the SEC.)
- 82-6868171 — IRS Employer Identification No. (Tax identification for the registrant.)
Key Players & Entities
- Grayscale Litecoin Trust (LTC) (company) — Registrant
- 20240621 (date) — Date of earliest event reported
- 20240626 (date) — Date of Report
- 1934 Act (legal_document) — SEC Act
FAQ
What specific type of equity securities were sold?
The filing states 'Unregistered Sales of Equity Securities' but does not specify the exact type of securities in the provided text.
Were these sales made to accredited investors?
The filing mentions 'Unregistered Sales of Equity Securities,' which typically implies sales made under an exemption from registration, often to accredited investors, but specific details are not in this excerpt.
What is the purpose of these unregistered equity sales?
The provided text does not disclose the specific purpose behind the unregistered sales of equity securities.
When was the earliest event reported in this 8-K?
The earliest event reported is dated June 21, 2024.
Who is the principal executive office address for Grayscale Litecoin Trust (LTC)?
The address is c/o Grayscale Investments, LLC, 290 Harbor Drive, 4th Floor, Stamford, Connecticut, 06902.
From the Filing
0000950170-24-077845.txt : 20240626 0000950170-24-077845.hdr.sgml : 20240626 20240626160317 ACCESSION NUMBER: 0000950170-24-077845 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20240621 ITEM INFORMATION: Unregistered Sales of Equity Securities FILED AS OF DATE: 20240626 DATE AS OF CHANGE: 20240626 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: 241073405 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-20240621.htm 8-K 8-K false 0001732406 0001732406 2024-06-21 2024-06-21   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): June 21, 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 Current Report on Form 8-K by Grayscale Litecoin Trust (LTC) (the “Trust”), the Trust issued 268,300 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 22,916.45407976 LTC representing $1,714,557. Grayscale Secu