Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: Purchases of equity securities by the issuer and affiliated purchasers —The following table summarizes the Share purchase activity for the three months ended June 30, 2022:
−Removed: Price Paid per
+Added: Purchases of equity securities by the issuer and affiliated purchasers —The table below sets forth information regarding open market purchases of Shares of Grayscale Bitcoin Trust (BTC) (OTCQX:
+Added: GBTC) by DCG, the parent company of the Sponsor, on a monthly basis during the three months ended September 30, 2022:
(in millions)
−Removed: April 1, 2022 – April 30, 2022
−Removed: May 1, 2022 – May 31, 2022
−Removed: June 1, 2022 – June 30, 2022 2
+Added: July 1, 2022 – July 31, 2022
+Added: August 1, 2022 – August 31, 2022
+Added: September 1, 2022 – September 30, 2022
On March 10, 2021, the Board approved the purchase by DCG, the parent company of the Sponsor, of up to $250 million worth of Shares of the Trust.
13 unchanged sentences
The Share purchase authorization does not obligate DCG to acquire any specific number of Shares in any period, and may be expanded, extended, modified, or discontinued at any time.
−Removed: From March 10, 2021 through August 1, 2022, DCG has purchased a total of $771.8 million worth of Shares of the Trust.
−Removed: Shares received which were pledged as collateral under a loan agreement for which the counterparty defaulted and were subsequently assumed by Genesis Global Holdco, LLC and subsidiaries, which are wholly owned subsidiaries of DCG.
−Removed: The price ascribed to the Shares represents the value attributed to the collateral at the time of default and does not reflect the value of the Shares when determining the open claim against the counterparty, which has yet to be finalized under bankruptcy proceedings.
−Removed: These amounts do not impact the remaining amount of Shares that can be repurchased under the publicly announced program.
+Added: From March 10, 2021 through October 31, 2022, DCG has purchased a total of $771.8 million worth of Shares of the Trust.
Defaults Upon Senior Securities
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.