Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Grayscale Stellar Lumens Trust issues new shares

Published 23/10/2024, 08:38 am
XLM/USD
-

Grayscale Stellar Lumens Trust (XLM), a digital currency investment product, has announced the issuance of 68,600 new shares to accredited investors in private transactions. These shares were sold at varying prices based on the Trust's Net Asset Value (NAV) per Share, resulting in an aggregate of 5,924,778.6908229 XLM or approximately $561,746. The transactions, which took place since the last report, were exempt from the registration requirements of the Securities Act.

The Trust, which operates under the Delaware jurisdiction with Grayscale Investments, LLC as its sponsor, now has a total of 1,293,000 shares issued and outstanding as of today. The shares were distributed without any underwriting discounts or commissions to Grayscale Securities, LLC, the Authorized Participant that facilitated the transactions.

Grayscale Securities, by assisting in the creation and distribution of the shares, may be considered an "underwriter" according to the Securities Act. This status comes into play as the shares are created and issued periodically, potentially constituting a "distribution" as defined by the Securities Act.

This financial activity was reported in accordance with the Securities Exchange Act of 1934, with the report signed by Edward McGee, Chief Financial Officer of Grayscale Investments, LLC, on behalf of the Grayscale Stellar Lumens Trust. The information provided in this article is based on the contents of the trust's recent SEC filing.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.