Company: HZEN
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-017070
Chunk: 111

Company: Grayscale Horizen Trust (ZEN)
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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 motion to strike the amended complaint. On August 30, 2024, Osprey filed an opposition to the Sponsor’s motion to strike the amended complaint. On October 11, 2024, the Court denied the Sponsor’s motion to strike. On November 22, 2024, the Sponsor filed a motion for summary judgment on the grounds that CUTPA does not apply to practices undertaken in connection with the purchase and sale of securities, and the Court granted the Sponsor’s motion for summary judgment on February 7, 2025.

As of the date of this Quarterly Report, the Sponsor does not expect the foregoing proceedings to have a material adverse effect on the Trust’s business, financial condition or results of operations.

The Sponsor and/or the Trust may be subject to additional legal proceedings and disputes in the future.

Item 1A. Risk Factors 

There have been no material changes to the Risk Factors last reported under “Part I, Item 1A. Risk Factors” of the registrant’s Annual Report on Form 10-K.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 

Purchases of equity securities by the issuer and affiliated purchasers —The table below sets forth information regarding open market purchases of Shares of Grayscale Horizen Trust (ZEN) (OTCQX: HZEN) 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 HZEN Purchased

    (b) Average Price Paid per Share of HZEN

    (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

    -

    $
    -

    -

    $
    9.99

    November 1, 2024 - November 30, 2024

    -

    -

    -

    9.99

    December 1, 2024 - December 31, 2024

    -

    -

    -

    9.99

    Total

    -

    $
    -

    -

    $
    9.99

(1)On March 2, 2022, the Board approved