Destiny Tech100 Surges 17%, Plans $1B Offering, Traded at 1000% Premium Last Week

Destiny Tech100, trading under the ticker $DXYZ, experienced significant market volatility recently, with its stock price surging by 17% in a single day, only to relinquish all gains in after-hours trading. This fluctuation occurred following the company's announcement of a potential offering of up to $1 billion in common stock shares. Additionally, concerns have been raised about the fund's management and fee disclosures, with discrepancies noted between the product page and the prospectus regarding fee percentages. The fund, which closed at $43.50 per share, is currently trading at approximately nine times its net asset value (NAV) and was trading at over 1000% premiums last week.