Company: ZCSH
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0000950170-25-035469
Chunk: 224

Company: Grayscale Zcash Trust (ZEC)
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1B
Chunk 224
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Recent Sales of Unregistered Shares

As of December 31, 2024, the Registrant has distributed 4,700,500 Shares at varying prices determined by reference to the NAV per Share to selected “accredited investors,” within the meaning of Rule 501 of Regulation D under the Securities Act. The Shares were sold in connection with an ongoing offering pursuant to Rule 506(c) of Regulation D under the Securities Act. Grayscale Securities acted as the Authorized Participant with respect to these distributions beginning October 3, 2022. For all such distributions prior to October 3, 2022, Genesis acted as the Authorized Participant with respect to these distributions. In exchange for these sales, the Trust received an aggregate of 437,428.03254882 ZEC. Because 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, the Authorized Participant facilitating the creation of Shares and acting as a distributor and marketer during any such period may be deemed an “underwriter” under Section 2(a)(11) of the Securities Act. No underwriting discounts or commissions were paid to the Authorized Participant with respect to such sales.

Purchases of Equity Securities

Purchases of equity securities by the issuer and affiliated purchasers —The table below sets forth information regarding open market purchases of Shares of Grayscale Zcash Trust (ZEC) (OTCQX: ZCSH) by DCG, the indirect parent company of the Sponsor, on a monthly basis during the three months ended December 31, 2024:

    Period
     
    (a) Total Number of Shares of ZCSH Purchased

    (b) Average Price Paid per Share of ZCSH

    (c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs(1)

    (d) Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs(1)

    (in millions)

    October 1, 2024 - October 31, 2024

    -

    $
    -

    -

    $
    8.0

    November 1, 2024 - November 30, 2024

    -

    -

    -

    8.0

    December 1, 2024 - December 31, 2024

    -

    -

    -