Product to separate the equity and dividend components of a stock and pass-through voting rights
NEW YORK & SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–Permuto Capital LLC (Permuto), a joint venture between 3V Capital Partners SE LLC (3V Capital Partners) and Chia Network Inc. (Chia), today announced that two additional voting trust investment vehicles (each, a Trust) formed by Permuto have filed registration statements with the Securities and Exchange Commission (SEC) relating to proposed public offerings of a new type of equity product. Permuto will act as the trust administrator of the Trusts. Additionally, Permuto announced submission of a first amended registration statement for a MSFT Trust filed on January 15, 2025.
The new products will consist of certificates issued by the Trusts, which are each formed solely to hold a single class of stock of a specified publicly traded company. The Trusts will hold shares of common stock of Apple Inc. (NASDAQ: AAPL) and Broadcom Inc. (NASDAQ: AVGO), respectively.
The certificates will consist of “dividend certificates” and “asset certificates” that represent the dividend portion and the asset portion, respectively, of the underlying stock.
Permuto initially plans to limit the Trusts’ holdings to no more than 5% of the outstanding shares of the underlying stocks. Any investor will be able to deposit or redeem underlying shares subject to a minimum value of $25,000.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to this offering, when available, may be obtained by email at info@permuto.capital.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or other terms of the offering.
About Permuto Capital
Permuto, based in New York City and South San Francisco, is dedicated to advancing innovative financial solutions for institutional and retail investors. With a commitment to integrity and strategic growth, we aim to drive progress in an ever-evolving marketplace. For more information on Permuto, visit www.permuto.capital.
About 3V Capital Partners SE LLC
3V Capital Partners focuses on the democratization of innovative financial solutions that were traditionally only offered to qualified institutional buyers and carried significant fee drag. 3V Capital Partners utilizes cutting-edge technology and rigid risk management standards to ensure our products carry the lowest possible fee for investors and minimize counterparty risk. Founded by a team of technology-focused investment bankers, the firm seeks to innovate financial markets and enable investors to better manage risk and customize exposure to public securities.
About Chia Network Inc.
Chia Network delivers software to enable enterprises to tokenize, custody, and trade any asset, while ensuring auditable authenticity and provenance. Created by Bram Cohen, the inventor of BitTorrent, the underlying open source, public Chia blockchain provides the secure and regulatory-compliant infrastructure for One Market.
Contacts
FTI Consulting
Dan Margolis and Keara Hanlon
E: Chia@FTIconsulting.com
