Grayscale Litecoin Trust : Private Placement Form 8 K

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

Grayscale Litecoin Trust (OTC:GLTC) announced on Friday that it had made another sale of its shares in a private placement transaction.

The Trust said that it sold 499,200 Shares at varying prices determined by reference to its NAV per Share to selected “accredited investors”.

The sales were made under Rule 506(c) of Regulation D under the Securities Act of 1933, as amended.

As a result, there are now 22,780,400 Shares issued and outstanding as of October 18, 2024.

Also on Friday, Grayscale Bitcoin Trust (OTC:GBTC) announced that it had sold an additional 11,980 Shares at varying prices.

The sales were made at prices ranging from $11.02 to $11.03 per Share, for an aggregate of 106.00074192 BTC, valued at $1,171,180.

Grayscale Securities, LLC (“Grayscale Securities”) acted as the Authorized Participant with respect to these distributions.

Accredited investors are defined in Rule 501 of Regulation D under the Securities Act of 1933, as amended.

As 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.

Continue Reading on ETFDailyNews