Form 1-U - Current Report Pursuant to Regulation A

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 1-U

 

Current Report Pursuant to Regulation A

 

Date of Report (Date of earliest event reported): May 22, 2024

 

 

Public Shrek Royalties LLC

(Exact name of issuer as specified in its charter)

 

Delaware		92-0336540
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

 

6 Harrison Street, 5th Floor, New York, NY 10013

(Full mailing address of principal executive offices)

 

201-479-4408

(Issuer’s telephone number, including area code)

   

Non-Voting Membership Interests

(Title of each class of securities issued pursuant to Regulation A)

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Item 9

Other Events

Sale of Underlying Asset

On November 25, 2024, Public Shrek Royalties LLC, a Delaware limited liability company (the “Company”), consummated the sale of the underlying asset of the Company, 25% of the right, title and interest of composer Harry Gregson-Williams, along with a security interest, in the songwriter’s life of rights share of all public performance royalties attributable to the related works, for $96,140,092. In connection with the sale, Otis Wealth, Inc. (the “Manager”) will assume any remaining outstanding but unpaid expenses. This will result in a net gain to holders of interests in the Company.

The Manager, as the manager of the Company, has been appointed as liquidator and will distribute to holders of interests in the Company all of the remaining assets (which consist only of cash) of the Company, after making provision for liabilities of the Company, if any. After making such distribution, the Manager intends to begin winding up the Company as the Company will no longer have any assets or liabilities. For the avoidance of doubt, the liquidator has not withheld any distribution for taxes related to any gain on the sale for individual holders of interests in the Company.

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SIGNATURES  

Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

   

Date: December 3, 2024	PUBLIC SHREK ROYALTIES LLC By: Otis Wealth, Inc., its managing member
	/s/ Saumya Manohar
	Name: Saumya Manohar
	Title: President, Secretary, Treasurer & Sole Director

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