---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-021146"
form_type: "8-K"
ticker: "HZEN"
cik: "0001748945"
company_name: "Grayscale Horizen Trust (ZEN)"
filed_at: "2025-02-14T23:59:59+00:00"
generated_at: "2026-05-26T21:29:12.119822+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# Grayscale Horizen Trust issues 350,100 shares for $357k in ZEN to accredited investors

## Summary
- Issued 350,100 shares at NAV-based prices under Rule 506(c) exemption to accredited investors.
- Aggregate consideration: 29,744.61 ZEN (~$357,072).
- Total shares outstanding: 10,862,200 as of February 14, 2025.
- Grayscale Securities served as Authorized Participant; no underwriting discounts or commissions.

## SEC filing metadata
- accession: 0000950170-25-021146
- form_type: 8-K
- ticker: HZEN
- cik: 0001748945
- company_name: Grayscale Horizen Trust (ZEN)
- filed_at: 2025-02-14T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1748945/000095017025021146/0000950170-25-021146-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1748945/000095017025021146/hzen-20250211.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-021146
- JSON: https://secwatch.observer/filing/0000950170-25-021146.json
- Plain text: https://secwatch.observer/filing/0000950170-25-021146.txt

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