Company: HZEN
Filing Date: 2025-02-14
Form Type: 8-K
Source: 0000950170-25-021146
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Company: Grayscale Horizen Trust (ZEN)
Filing Date: 2025-02-14
Form: 8-K
Item: Item 3.02
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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 Horizen Trust (ZEN) (the “ Trust”), the Trust issued 350,100 Shares at varying prices determined by reference to its NAV per Share to selected “accredited investors,” within the meaning of Rule 501 of Regulation D under the Securities Act of 1933, as amended (the “ Securities Act”), in private placement transactions exempt from the registration requirements of the Securities Act pursuant to Rule 506(c) thereunder for an aggregate of 29,744.60568885 ZEN representing $357,072. Grayscale Securities, LLC (“ Grayscale Securities”) acted as the Authorized Participant with respect to these distributions. As a result, there are 10,862,200 Shares issued and outstanding as of February 14, 2025.

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, 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.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

                                             Grayscale Investments Sponsors, LLC, as Sponsor of Grayscale Horizen Trust (ZEN)  
  Date:      February 14, 2025      By:      /s/ Edward McGee                                                                  
                                             Edward McGee                                                                      

* The Registrant is a trust and the identified person signing this report is signing in their capacity as an authorized officer of Grayscale Operating, LLC, the sole member of Grayscale Investments Sponsors, LLC, the Sponsor of the Registrant.