1-U 1 form1-u.htm

 

 

 

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  

Certificate of Cancellation, Dated December 28, 2022

 

 

 

 

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