---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-052486"
form_type: "8-K"
ticker: "HZEN"
cik: "0001748945"
company_name: "Grayscale Horizen Trust (ZEN)"
filed_at: "2025-04-09T23:59:59+00:00"
generated_at: "2026-05-23T18:34:54.892013+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.15
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# Grayscale Horizen Trust issues 154,900 shares to accredited investors, raising $110,066

## Summary
- Issued 154,900 shares at NAV per share to accredited investors in exemption under Rule 506(c).
- Aggregate proceeds of $110,066; no underwriting discounts paid to Grayscale Securities.
- Total shares outstanding increased to 11,380,800 as of April 9, 2025.
- Grayscale Securities acted as Authorized Participant facilitating creation and potential distribution.

## SEC filing metadata
- accession: 0000950170-25-052486
- form_type: 8-K
- ticker: HZEN
- cik: 0001748945
- company_name: Grayscale Horizen Trust (ZEN)
- filed_at: 2025-04-09T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.15
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1748945/000095017025052486/0000950170-25-052486-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1748945/000095017025052486/hzen-20250404.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-052486
- JSON: https://secwatch.observer/filing/0000950170-25-052486.json
- Plain text: https://secwatch.observer/filing/0000950170-25-052486.txt

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