Grayscale Litecoin Trust Files 8-K on Equity Sales

Ticker: LTCN · Form: 8-K · Filed: 2024-11-20T00:00:00.000Z

Sentiment: neutral

Topics: unregistered-securities, equity-sale, trust-filing

Related Tickers: GBTC

TL;DR

Grayscale Litecoin Trust (LTC) filed an 8-K for unregistered equity sales on Nov 16.

AI Summary

On November 16, 2024, Grayscale Litecoin Trust (LTC) filed an 8-K report detailing unregistered sales of equity securities. The filing, submitted on November 20, 2024, indicates a change in the reporting period to November 16, 2024. The company, previously known as Litecoin Investment Trust, is incorporated in Delaware and operates under IRS number 826868171.

Why It Matters

This filing provides insight into potential new share issuances or private placements by Grayscale Litecoin Trust, which could impact the trust's share count and potentially its net asset value per share.

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 closer examination.

Key Numbers

Key Players & Entities

FAQ

What specific type of unregistered equity securities were sold?

The filing does not specify the exact type of unregistered equity securities sold, only that it pertains to 'Unregistered Sales of Equity Securities'.

Were these sales part of a private placement or a direct offering?

The filing indicates 'Unregistered Sales of Equity Securities' but does not explicitly state whether it was a private placement or another form of unregistered offering.

What is the significance of the date November 16, 2024, for this filing?

November 16, 2024, is the date of the earliest event reported, which is the date of the unregistered sales of equity securities.

Has Grayscale Litecoin Trust undergone any name changes recently?

Yes, the company was formerly known as Litecoin Investment Trust, with a date of name change not specified in this excerpt but indicated as prior to this filing.

What is the principal executive office address for Grayscale Litecoin Trust?

The principal executive offices are located at c/o Grayscale Investments, LLC, 290 Harbor Drive, 4th Floor, Stamford, Connecticut 06902.

From the Filing

0000950170-24-129239.txt : 20241120 0000950170-24-129239.hdr.sgml : 20241120 20241120160702 ACCESSION NUMBER: 0000950170-24-129239 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20241116 ITEM INFORMATION: Unregistered Sales of Equity Securities FILED AS OF DATE: 20241120 DATE AS OF CHANGE: 20241120 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: 241480360 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-20241116.htm 8-K 8-K 0001732406 false 0001732406 2024-11-16 2024-11-16   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): November 16, 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 546,200 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 46,184.16321699 LTC representing $3,876,606. Grayscale Securit

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