Destiny Tech100 Shares Fall 18% After Insider Selling Reported

Dow Jones04-17

By Stephen Nakrosis

Shares of Destiny Tech100 were trading lower in the after-hours market Tuesday, following news that the company's chief executive officer and shareholder Destiny XYZ recently sold shares.

After the bell, the company's stock was down 18% at $35.67. The stock closed the day's regular session with a gain of almost 18% at $43.50.

In a filing with the Securities and Exchange Commission, the company said CEO Sohail Prasad recently sold 200,000 shares at $24.65 each. Earlier this month, he sold 162,500 shares at $30 each.

Stockholder Destiny XYZ also recently sold 200,000 shares at $24.65 each, the company said in a filing.

Destiny Tech100 has 10.9 million shares outstanding, with a public float of 9.5 million.

Destiny Tech100 is a closed-end management investment company. The company said it plans to invest in a portfolio of 100 of the top venture-backed private technology companies. Companies in its current portfolio include SpaceX, Epic Games, OpenAI and Instacart.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

April 16, 2024 18:05 ET (22:05 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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