---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-139563"
form_type: "8-K"
ticker: "HZEN"
cik: "0001748945"
company_name: "Grayscale Horizen Trust (ZEN)"
filed_at: "2024-12-23T23:59:59+00:00"
generated_at: "2026-05-28T23:43:09.132014+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Grayscale Horizen Trust issues 3.57M shares in private placement, raising $4.71M

## Summary
- Issued 3,565,200 shares at NAV-based prices to accredited investors under Rule 506(c), raising $4,712,299.
- Grayscale Securities acted as Authorized Participant; no underwriting discounts paid.
- Shares outstanding increase to 10,403,200 as of December 23, 2024 (up from ~6.8M previously).
- Proceeds (304,034.38984804 ZEN) represent additional Zen cryptocurrency held by the trust.

## SEC filing metadata
- accession: 0000950170-24-139563
- form_type: 8-K
- ticker: HZEN
- cik: 0001748945
- company_name: Grayscale Horizen Trust (ZEN)
- filed_at: 2024-12-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1748945/000095017024139563/0000950170-24-139563-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1748945/000095017024139563/hzen-20241218.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-139563
- JSON: https://secwatch.observer/filing/0000950170-24-139563.json
- Plain text: https://secwatch.observer/filing/0000950170-24-139563.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.