Exhibit 99.1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 1-U
CURRENT REPORT
Pursuant to Regulation A of the Securities Act of 1933
December 30, 2022
Date of Report: (Date of earliest event reported)
MASTERWORKS 016, LLC
(Exact name of issuer as specified in its charter)
| Delaware | 85-1144500 | |
| State of other jurisdiction of | (I.R.S. Employer | |
| incorporation or organization | Identification No.) |
225 Liberty Street, 29th Floor, New York, NY 10281
(Full mailing address of principal executive offices)
(203) 518-5172
(Issuer’s telephone number, including area code)
www.masterworks.com
(Issuer’s website)
Class A Ordinary Shares
(Securities issued pursuant to Regulation A)
Item 9. Other Events
As previously disclosed by Masterworks 016, LLC (the “Company”) in its Current Report on Form 1-U as filed with the SEC on March 8, 2022, on March 7, 2022, the Company and the 016 Segregated Portfolio of Masterworks Cayman, SPC consummated the sale of its sole material asset and commenced the process of winding up and dissolving in accordance with the Company’s Second Amended and Restated Limited Liability Company Operating Agreement.
On December 28, 2022, the Company filed a Certificate of Cancellation with the Delaware Secretary of State and the Company was dissolved. A copy of the Certificate of Cancellation is attached to this Form 1-U as Exhibit 99.1.
Exhibit Index
| Exhibit No. | Description of Exhibit | |
| 99.1 |
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.
| MASTERWORKS 016, LLC | ||
| By: | /s/ Joshua B. Goldstein | |
| Name: | Joshua B. Goldstein | |
| Title: | General Counsel | |
Date: December 30, 2022
Exhibit 99.1