---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-030874"
form_type: "8-K"
ticker: "HZEN"
cik: "0001748945"
company_name: "Grayscale Horizen Trust (ZEN)"
filed_at: "2025-03-03T23:59:59+00:00"
generated_at: "2026-05-25T19:18:02.159707+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Grayscale Horizen Trust issued 238,300 Shares at NAV for $260,185 to accredited investors

## Summary
- Issued 238,300 Shares at NAV-based prices to accredited investors under Rule 506(c).
- Total proceeds were 20,225.85693168 ZEN representing $260,185.
- Shares outstanding now 11,100,500 as of March 3, 2025.
- Grayscale Securities acted as Authorized Participant; no underwriting discounts paid.

## SEC filing metadata
- accession: 0000950170-25-030874
- form_type: 8-K
- ticker: HZEN
- cik: 0001748945
- company_name: Grayscale Horizen Trust (ZEN)
- filed_at: 2025-03-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1748945/000095017025030874/0000950170-25-030874-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1748945/000095017025030874/hzen-20250226.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-030874
- JSON: https://secwatch.observer/filing/0000950170-25-030874.json
- Plain text: https://secwatch.observer/filing/0000950170-25-030874.txt

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