Grayscale Bitcoin Cash Trust Reports Unregistered Equity Sale

Ticker: BCHG · Form: 8-K · Filed: 2024-07-24T00:00:00.000Z

Sentiment: neutral

Topics: unregistered-sale, equity-securities, crypto

TL;DR

Grayscale BCH Trust filed an 8-K for unregistered equity sales on 7/20.

AI Summary

On July 20, 2024, Grayscale Bitcoin Cash Trust (BCH) reported an unregistered sale of equity securities. The filing does not disclose specific details regarding the number of securities sold or the aggregate offering price, but it is filed under the 1934 Act.

Why It Matters

This filing indicates potential new share creation or redemption activity for the Grayscale Bitcoin Cash Trust, which could impact its Net Asset Value and the market for Bitcoin Cash.

Risk Assessment

Risk Level: medium — Unregistered sales can sometimes indicate less transparency or potential regulatory scrutiny compared to registered offerings.

Key Players & Entities

FAQ

What specific type of equity security was sold?

The filing states 'Unregistered Sales of Equity Securities' but does not specify the exact type of security.

Were these sales part of a private placement or other exemption from registration?

The filing is made under Item 3.02 of Form 8-K, which pertains to 'Unregistered Sales of Equity Securities', implying an exemption from registration was relied upon.

What is the date of the earliest event reported in this 8-K?

The earliest event reported is dated July 20, 2024.

What is the Commission File Number for Grayscale Bitcoin Cash Trust (BCH)?

The Commission File Number is 000-56308.

Does the filing provide any details on the number of securities sold or the price?

No, the filing does not provide specific details on the number of securities sold or the aggregate offering price.

From the Filing

0000950170-24-086016.txt : 20240724 0000950170-24-086016.hdr.sgml : 20240724 20240724160248 ACCESSION NUMBER: 0000950170-24-086016 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20240720 ITEM INFORMATION: Unregistered Sales of Equity Securities FILED AS OF DATE: 20240724 DATE AS OF CHANGE: 20240724 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Grayscale Bitcoin Cash Trust (BCH) CENTRAL INDEX KEY: 0001732409 STANDARD INDUSTRIAL CLASSIFICATION: [6221] ORGANIZATION NAME: 09 Crypto Assets IRS NUMBER: 826867376 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-56308 FILM NUMBER: 241138063 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: Bitcoin Cash Investment Trust DATE OF NAME CHANGE: 20180222 8-K 1 bchg-20240720.htm 8-K 8-K 0001732409 false 0001732409 2024-07-20 2024-07-20   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): July 20, 2024     Grayscale Bitcoin Cash Trust (BCH) (Exact name of Registrant as Specified in Its Charter)     Delaware 000-56308 82-6867376 (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 Bitcoin Cash Trust (BCH) Shares   BCHG   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 Bitcoin Cash Trust (BCH) (the “Trust”), the Trust issued 635,300 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 5,415.27488867 BCH repres

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