Destiny Tech100 (DXYZ) registers $1.0B ATM; Q1 ATM sales raise $244M

Q: What does Destiny Tech100's $1,000,000,000 registration mean for DXYZ?

It registers up to $1,000,000,000 of common stock under an at-the-market offering , allowing the company to sell shares into the market over time. The supplement modifies the existing prospectus and names Jefferies LLC as the sales agent.

Q: How much NAV did DXYZ report as of March 31, 2026?

Destiny Tech100 reported a net asset value of $24.56 per share as of March 31, 2026. This NAV was determined under the company’s stated valuation policies and procedures.

Q: What are the largest portfolio exposures disclosed by DXYZ?

The largest reported exposure is First American Treasury Obligations, Class X at 31.4% of the portfolio, followed by a vehicle with economic exposure to Anthropic at 18.1% and SpaceX-related exposures at 9.6%, all as of March 31, 2026.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

424B3

Rhea-AI Filing Summary

Destiny Tech100 Inc. supplements its prospectus to update an at-the-market offering program registering up to $1,000,000,000 of common stock, sold through Jefferies LLC.

The supplement reports a net asset value of $24.56 per share as of March 31, 2026 and an approximate portfolio value of $742.5 million as of March 31, 2026. The portfolio allocation is concentrated in a money market holding (First American Treasury Obligations, Class X) representing 31.4% of the portfolio, and a large exposure to a vehicle with economic exposure to Anthropic at 18.1% and SpaceX-related exposures at 9.6%.

Under the at-the-market program, from January 1, 2026 through March 31, 2026 the company sold 8,489,359 shares at a weighted average price of $28.76 per share, generating approximately $244.1 million in net proceeds after commissions and fees.

Insights

ATM registration and recent sales show active capital raising.

The company registers up to $1,000,000,000 under an at-the-market offering with Jefferies and reports 8,489,359 shares sold at a weighted average price of $28.76, producing net proceeds of $244.1M for the quarter ended March 31, 2026. This is a routine capital-raising mechanism that permits incremental issuance into the market.

Portfolio context: NAV is $24.56 per share and the portfolio value is approximately $742.5M as of March 31, 2026. Significant line items include a money market holding at 31.4% and an SPV exposure at 18.1%. Subsequent filings will show additional issuance activity and use of proceeds details.

Portfolio mix shows meaningful private/venture exposures via SPVs.

The portfolio lists multiple private-company exposures through SPVs and preferred stock positions, with forward contracts and profit participation units recorded. Several holdings are economic exposures through multi-layer SPVs; the excerpt notes the aggregate forward contracts per SPV represent less than 5% of net assets.

Key dependencies include liquidity and transferability of private securities; valuation and future realizations depend on de-restriction events and exit opportunities referenced in the portfolio disclosures.

Key Figures

Registered offering capacity: $1,000,000,000 Net Asset Value: $24.56 per share Portfolio value: $742.5 million +4 more

7 metrics

Registered offering capacity $1,000,000,000 Maximum offering of common stock (prospectus supplement)

Net Asset Value $24.56 per share NAV as of March 31, 2026

Portfolio value $742.5 million Approximate portfolio value as of March 31, 2026

ATM shares sold (Q1 2026) 8,489,359 shares Open Market Sales with Jefferies LLC, Jan 1–Mar 31, 2026

Weighted average sale price $28.76 per share Weighted average price for shares sold under ATM in Q1 2026

Net proceeds from ATM (Q1 2026) $244.1 million Net proceeds after commissions and fees, Jan 1–Mar 31, 2026

Largest portfolio weighting 31.4% First American Treasury Obligations, Class X as of March 31, 2026

Key Terms

at-the-market offering, SPV, profit participation units, forward contracts

4 terms

at-the-market offering financial

"sale of shares of the Company’s common stock pursuant to the “at-the-market offering”"

An at-the-market offering is a method companies use to sell new shares of stock directly into the open market over time, rather than all at once. This allows them to raise money gradually, similar to selling small pieces of a product instead of a large batch. For investors, it means the company can access funding more flexibly, but it may also increase the supply of shares and influence the stock’s price.

SPV financial

"The Company has a direct investment in a Special Purpose Vehicle ("SPV") which has invested"

An SPV (special purpose vehicle) is a separate legal entity created to hold specific assets, run a particular project, or issue securities, keeping those activities legally and financially distinct from the sponsor’s main business. Think of it as a sealed bucket used to isolate risk and cash flows—this matters to investors because an SPV can limit exposure to losses, affect credit risk and transparency, and influence how returns and liabilities are reported.

profit participation units financial

"economic exposure to OpenAI Global LLC, Profit Participation Units"

forward contracts financial

"SPV that holds multiple forward agreements that represent common shares"

A forward contract is a private agreement to buy or sell an asset at a specific price on a set future date, like agreeing today to buy a car at a fixed price six months from now. For investors, forwards matter because they let you lock in prices to protect against market swings or to bet on future moves, but they carry extra risk since they are customized deals between parties and can be harder to trade or enforce than standard exchange-traded instruments.

Offering Details

ATM

Offering

Offering Type ATM

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/11/2026 - 09:57 PM

FAQ

What does Destiny Tech100's $1,000,000,000 registration mean for DXYZ?

It registers up to $1,000,000,000 of common stock under an at-the-market offering, allowing the company to sell shares into the market over time. The supplement modifies the existing prospectus and names Jefferies LLC as the sales agent.

How much NAV did DXYZ report as of March 31, 2026?

Destiny Tech100 reported a net asset value of $24.56 per share as of March 31, 2026. This NAV was determined under the company’s stated valuation policies and procedures.

How many shares did DXYZ sell in Q1 2026 under the ATM program?

From January 1, 2026 through March 31, 2026, the company sold 8,489,359 shares at a weighted average price of $28.76 per share, yielding approximately $244.1 million in net proceeds after fees.

What are the largest portfolio exposures disclosed by DXYZ?

The largest reported exposure is First American Treasury Obligations, Class X at 31.4% of the portfolio, followed by a vehicle with economic exposure to Anthropic at 18.1% and SpaceX-related exposures at 9.6%, all as of March 31, 2026.

Does Destiny Tech100 hold private-company securities through SPVs?

Yes. The company discloses multiple direct investments in SPVs that provide economic exposure to private companies; several holdings note multi-layer SPV structures and forward contracts representing future delivery of private shares.

Filed pursuant to Rule 424(b)(3)

File No. 333-278734

Destiny Tech100 Inc.

Maximum Offering of up to $1,000,000,000

Common Stock

________________

Supplement No. 6 dated May 12, 2026

to the

Prospectus and Statement of Additional Information dated August 8, 2025, as amended or supplemented as
of the date hereof

This prospectus supplement modifies, amends and supplements certain information contained in the Prospectus of Destiny Tech100 Inc. (the “Company”) dated August 8, 2025, as amended or supplemented (the “Prospectus”) and the statement of additional information, dated August 8, 2025, as amended or supplemented (the “Statement of Additional Information”), which relate to the sale of shares of the Company’s common stock pursuant to the “at-the-market offering” with Jefferies LLC. This prospectus supplement supersedes, in all respects, prospectus supplement no. 5, dated May 11, 2026. Capitalized terms used in this prospectus supplement and not otherwise defined have the meaning specified in the Prospectus and/or Statement of Additional Information.

You should carefully consider the "Risk Factors" section beginning on page 26 of the Prospectus.

Net Asset Value

In connection with our regular net asset value determination process, as provided in our valuation policies and procedures, our net asset value as of March 31, 2026, is $24.56 per share of our common stock.

Portfolio

The following table sets forth certain information as of March 31, 2026, for each portfolio company in which we are currently invested. The percentage of portfolio column is based on an approximate portfolio value of $742.5 million as of March 31, 2026.

Portfolio Company	Nature of Principal Business	Underlying Security Type	% of Portfolio
Astranis Space Technologies Corp. - Series E Preferred Stock	Aviation/Aerospace	Preferred Stock	0.3%
Automation Anywhere, Inc.	Enterprise Software	Common Stock	*
Axiom Space, Inc. Series C Preferred Stock	Aviation/Aerospace	Preferred Stock	0.2%
Axiom Space, Inc. Series C-1 Preferred Stock	Aviation/Aerospace	Preferred Stock	0.4%
Beast Industries Co. - Series C Preferred Stock	Social Media	Preferred Stock	2.0%
Boom Technology, Inc. Series B-2 Preferred Stock	Aviation/Aerospace	Preferred Stock	0.2%
CElegans Labs, Inc.	Financial Technology	Common Stock	0.2%
Chime Financial Inc.	Financial Technology	Common Stock	0.2%
ClassDojo, Inc.	Education Services	Common Stock	0.3%
DA-1125 Gaingels Fund II (invested in Databricks, Inc. Series L Preferred Stock)	Enterprise Software	Preferred Stock⁽¹⁾	1.1%

DXYZ OAI I LLC (economic exposure to OpenAI Global LLC, Profit Participation Units)	Artificial Intelligence	Profit Participation Units⁽²⁾	1.0%
DXYZ SpaceX I LLC (economic exposure to Space Exploration Technologies Corp., 96% Common unit equivalent shares and Common Stock, 3% Series E Preferred Shares, and 1% in Series C preferred shares)	Aviation/Aerospace	Common Stock⁽²⁾⁽⁴⁾	9.6%
Discord, Inc.	Social Media	Common Stock	*
Discord, Inc. - Series G Preferred Stock	Social Media	Preferred Stock	*
First American Treasury Obligations, Class X, 3.59%	Money Market Fund	Mutual Fund	31.4%
Flexport, Inc.	Supply Chain/Logistics	Common Stock	*
G Squared Special Situations Fund, LLC - Series H-1 (invested in Brex, Inc., Common Stock)	Financial Technology	Common Stock⁽¹⁾	0.2%
Goanna Capital 26E LLC (invested in OpenAI Group PBC Series C Preferred Stock)	Artificial Intelligence	Preferred Stock⁽¹⁾	4.7%
Hermeus Corporation - Series C Preferred Stock	Aviation/Aerospace	Preferred Stock	2.0%
Hexagon Master LLC - Series 1 (invested in General Intuition, Inc. Series A Preferred Stock)	Artificial Intelligence	Preferred Stock⁽¹⁾	1.5%
Impossible Foods, Inc. - Series A Preferred Stock	Food Products	Preferred Stock	*
Jeeves, Inc. - Series C Preferred Stock	Financial Technology	Preferred Stock	0.1%
Khosla Ventures IFSPV II, LLC (invested in Impossible Foods, Inc., Series H Preferred Stock)	Food Products	Preferred Stock⁽¹⁾	*
Klarna Group PLC	Financial Technology	Common Stock	0.1%
Klarna Group PLC Class B Shares	Financial Technology	Non-Economic Voting Shares	*
Lemonade 18, LLC (invested in Monzo Bank Holding Group Limited F Ordinary Shares)	Financial Technology	Common Stock⁽¹⁾	0.8%
MCTC Investment Holdings (Delaware) LLC (invested in Databricks, Inc. Series L Preferred Stock)	Enterprise Software	Preferred Stock⁽¹⁾	1.4%
MW LSV Relativity Space, LLC	Aviation/Aerospace	N/A⁽⁶⁾	-
MWAM VC SpaceX-II, LLC (economic exposure to Space Exploration Technologies Corp., 55% Class A Common Stock and 45% Class C Common Stock)	Aviation/Aerospace	Common Stock⁽²⁾	2.8%
Magnitude ANC III, LLC (economic exposure to Anthropic PBC. Series B Preferred Shares)	Artificial Intelligence	Preferred Stock⁽²⁾	18.1%
Payward, Inc. - Series C Preferred Stock	Financial Technology	Preferred Stock	0.6%
Prive Tens, LLC (invested in Tenstorrent Holdings Inc., 15.00% 12/31/2026)	Hardware & Manufacturing	Convertible Note⁽¹⁾	1.7%
Public Holdings, Inc.	Financial Technology	Common Stock	*
Redwood Materials, Inc.	Energy Production	Common Stock	0.7%
Revolut Group Holdings Ltd.	Financial Technology	Common Stock	1.6%

Rhenium Bolt 2021, LLC	Financial Technology	N/A⁽³⁾	-
SP21Z Opportunities LLC (invested in OpenEvidence Inc. Common Stock)	Artificial Intelligence	Common Stock⁽¹⁾	4.6%
Skild AI, Inc. - Series C Preferred Stock	Artificial Intelligence	Preferred Stock	1.4%
Snowpoint Growth 2.5, LLC (invested in Shield AI Inc. Series F1 Preferred Stock)	Aviation/Aerospace	Preferred Stock⁽¹⁾	4.2%
Snowpoint Growth 2.6, LLC (invested in Space Exploration Technologies Corp. Class B Common Stock)	Aviation/Aerospace	Common Stock⁽¹⁾	2.0%
Snowpoint Growth 2.7, LLC (invested in Astranis Space Technologies Corp. Series E Preferred Stock)	Aviation/Aerospace	Preferred Stock⁽¹⁾	0.7%
Supabase, Inc. - Series A Preferred Stock	Enterprise Software	Preferred Stock	0.2%
Superhuman Platform, Inc.	Enterprise Software	Common Stock	0.1%
Vast, Inc. - Series A Preferred Stock	Aviation/Aerospace	Preferred Stock	0.7%
Vercel Inc.	Enterprise Software	Common Stock	0.3%
WH Strategic Opportunities Fund V LP (invested in Chaos Industries, Inc. Series D Preferred Stock)	Hardware & Manufacturing	Preferred Stock⁽¹⁾	2.1%
Total			99.5%**

*Less than 0.1%.

**Values may not sum due to rounding.

(1) The Company has a direct investment in a Special Purpose Vehicle ("SPV") which has invested in an underlying portfolio company. If applicable, the number of units presented, are the units in the SPV owned by the Company, which represents the equivalent number of securities of the underlying portfolio company for which the investment has economic exposure.

(2) The Company has a direct investment in an SPV which has economic exposure to an underlying portfolio company. The number of units presented, if applicable, are the units in the SPV owned by the Company, which represents the equivalent number of securities of the underlying portfolio company for which the investment has economic exposure. The SPV has invested through one or more underlying SPVs.

(3) During the year ended December 31, 2024, the SPV disposed of the underlying asset. As of March 31, 2026, the SPV does not hold any underlying assets.

(4) The SPV has invested through five underlying SPVs, resulting in the related economic exposure to the Company. Five of the underlying SPVs have one additional layer of SPVs, while one has two layers.

Portfolio Company	Nature of Principal Business	Underlying Security Type	% of Portfolio
Fund FG-RTA, a series of Forge Investments LLC (economic exposure to Stripe, Inc., Common Stock)	Financial Technology	Forward Contract⁽⁵⁾	0.4%
Fund FG-TQY, a series of Forge Investments LLC (economic exposure to Plaid, Inc., Common Stock	Financial Technology	Forward Contract⁽⁵⁾	*
Total			0.5%**

*Less than 0.1%.

**Values may not sum due to rounding.

(5) Investment is an SPV that holds multiple forward agreements that represent common shares of the indicated portfolio company. Forward contracts involve the future delivery of shares of a portfolio company upon such securities becoming freely transferable or the removal of restrictions on transfer. The aggregate total of the forward contracts for each SPV represents less than 5% of the Company’s net assets. The counterparties to the forward contracts are the shareholders of the private company who own the restricted shares. The Company does not have information as to the identities of the specific counterparties (the shareholders of the private company); however, counterparty risk is mitigated by the fact that there is not a single counterparty on the opposite side of the forward contracts and the sole obligation of the counterparties is to transfer shares following such time as the shares become freely transferable.

(6) During the period ended March 31, 2026, the SPV disposed of the underlying asset. As of March 31, 2026, the SPV does not hold any underlying assets.

At-the-Market Offering

From January 1, 2026 through March 31, 2026, we sold a total of 8,489,359 shares of our common stock at a weighted average price of $28.76 per share under the Open Market Sale Agreement^SM, as amended as of the date hereof, with Jefferies LLC. The net proceeds as a result of these sales of common stock were approximately $244.1 million, after deducting commissions and fees.

Source: View Original Filing on SEC EDGAR

Destiny Tech100 (DXYZ) registers $1.0B ATM; Q1 ATM sales raise $244M

Rhea-AI Filing Summary

Positive

Negative