Company: GSUI
Filing Date: 2025-12-05
Form Type: S-1
Source: 0001193125-25-309828
Chunk: 306

Company: Grayscale Sui Trust (SUI)
Filing Date: 2025-12-05
Form: S-1
Chunk 306
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 shareholder of the Trust (or assignees cumulatively) shall indemnify, defend, hold harmless, and reimburse the Trust for all such loss, liability, damage, cost and expense incurred, including attorneys’ and accountants’ fees.

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Item 15. Recent Sales of Unregistered Securities

The following sets forth information regarding securities sold or issued by the registrant in the three years preceding the date of this registration statement without registration under the Securities Act of 1933:

As of September 30, 2025, Grayscale Sui Trust (SUI) has distributed 212,700 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, LLC acted as the Authorized Participant with respect to these distributions. In exchange for these sales, the Trust received an aggregate of 8,005,967.97415255 SUI. 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.

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Item 16. Exhibits and Fina ncial Statement Schedules (a) The following exhibits are filed as part of this registration statement:

| Exhibit Number | Description                                                                                                                                                                     |
| 3.1            | Certificate of Trust.                                                                                                                                                           |
| 4.1*           | Second Amended and Restated Declaration of Trust and Trust Agreement, by and among CSC Delaware Trust Company, as trustee, and Grayscale Investments Sponsors, LLC, as sponsor. |
| 4.2*           | Form of Participant Agreement.                                                                                                                                                  |
| 5.1*           | Opinion of Richards, Layton & Finger, P.A., as special Delaware counsel to the Trust.                                                                                           |
| 8.1*           | Opinion of Davis Polk & Wardwell LLP, as special tax counsel to the Trust