Grayscale Stellar Lumens Trust (XLM), a digital currency investment product, has reported the issuance of new shares. According to a recent SEC filing, the Trust has created 61,100 shares in private transactions to accredited investors. These shares were sold at various prices pegged to the Trust's net asset value per share, resulting in an aggregate of approximately 5.27 million XLM, equivalent to $500,277.
The transactions, which took place since the last report filed, were exempt from registration under the Securities Act of 1933 due to their private nature and the accredited status of the investors. Grayscale Securities, LLC, acted as the Authorized Participant for these distributions, facilitating the creation and sale of these shares.
As of today, Grayscale Stellar Lumens Trust has 1,354,100 shares issued and outstanding. The Trust's actions are part of an ongoing issuance of shares which could be deemed a distribution under the Securities Act. Consequently, Grayscale Securities might be considered an underwriter in this context. However, it is noted that no underwriting discounts or commissions were paid in relation to these sales.
The information presented in this article is based on statements from a press release filed with the SEC.
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