Destiny Tech100 launches $1 billion stock offering program

Destiny Tech100 Inc. (NYSE: DXYZ) announced an at-the-market offering program to sell up to $1 billion in common stock through sales agent Jefferies LLC, according to a prospectus supplement filed with securities regulators.

The closed-end investment company entered into a sales agreement with Jefferies, which will receive compensation of up to 3.0% of the gross sales price per share sold. The sales agent is not required to sell any specific number or dollar amount of shares but will use commercially reasonable efforts consistent with normal trading practices.

As of May 21, 2026, Destiny Tech100's stock traded at $61.66 per share on the New York Stock Exchange, while the company's net asset value per share was $24.56 as of March 31, 2026. The company noted significant price volatility since its NYSE listing on March 26, 2024, without corresponding material changes in financial condition or operations.

The prospectus supplement warned that investors may lose a significant portion of their investments if the stock price subsequently declines. The company noted that shares of closed-end investment companies frequently trade at discounts to their net asset value, which could increase loss risks for purchasers.

Destiny Tech100 elected to be taxed as a regulated investment company for U.S. federal income tax purposes beginning with its taxable year ended December 31, 2023. The company has agreed to provide indemnification to Jefferies against certain liabilities under federal securities laws.

The Securities and Exchange Commission has not approved or disapproved the securities or determined the accuracy of the prospectus materials.

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