Grayscale Investments, Inc.

S-1/A amended

Grayscale Investments, Inc. filed an S-1/A amendment for its initial public offering (IPO) of Class A common stock, maintaining its 'Up-C' structure. The filing confirms the company will be a 'controlled company' under NYSE rules due to Digital Currency Group's (DCG) voting control. The offering aims to raise capital by purchasing LLC Units from Pre-IPO LLC Members, with underwriters including Morgan Stanley, BofA Securities, and others. The prospectus highlights risks related to DCG's dominance, lack of public market liquidity, and emerging growth company status.

S-1 filed

Grayscale Investments, Inc. is conducting its initial public offering (IPO) of Class A common stock, transitioning from a private entity to a publicly traded company. The offering involves two classes of stock, with Class A having one vote per share and Class B having ten votes but no economic rights. The company will use proceeds to purchase LLC Units from Pre-IPO LLC Members, controlled by Digital Currency Group (DCG), which will maintain voting control. The IPO follows an 'Up-C' structure, and the stock is slated for NYSE listing under 'GRAY'.

DRS/A amended

Grayscale Investments, Inc. is conducting an initial public offering (IPO) of Class A common stock, transitioning from a private entity to a publicly traded company. The offering involves a structured 'Up-C' format, with proceeds used to acquire LLC Units from Pre-IPO LLC Members. Upon completion, Grayscale will have two classes of stock, with Class B shares (controlled by Digital Currency Group, Inc.) granting 100% voting power, making it a 'controlled company' under NYSE rules. The IPO aims to list on the NYSE under the symbol 'GRAY', with underwriters including Morgan Stanley, BofA Securities, and Jefferies.

DRS/A amended

Grayscale Investments, Inc. is conducting an initial public offering (IPO) of Class A common stock, structured as an 'Up-C' entity. The offering involves two classes of stock, with Class B shares held by Digital Currency Group (DCG) granting it control over corporate decisions. The company plans to use proceeds to acquire LLC units from Pre-IPO LLC Members, maintaining its role as a holding company over Grayscale Operating, LLC. The filing emphasizes its position as a leading digital asset investment platform with $30.5 billion in assets under management as of June 2025.

DRS/A amended

Grayscale Investments, Inc. is conducting its initial public offering (IPO) by issuing Class A common stock through an 'Up-C' structure. The offering will result in two classes of stock, with Class A having voting rights and Class B (held by Digital Currency Group) having no economic rights but significant voting power. The company will use proceeds to purchase LLC units from Pre-IPO members, and it will be a 'controlled company' under DCG's influence. The IPO is intended to list on a stock exchange under the symbol 'GSC'.

DRS filed

GSO Intermediate Holdings I Corporation, a holding company controlled by Digital Currency Group (DCG), is conducting its initial public offering (IPO) to issue Class A common stock. The offering will be structured as an 'Up-C' arrangement, with proceeds used to purchase LLC Units from Pre-IPO LLC Members. Post-IPO, DCG will maintain control through Class B shares, enabling it to influence major corporate decisions. The company operates through Grayscale Operating, LLC, which manages cryptocurrency-related assets.