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
October 25, 2021
Date of Report: (Date of earliest event reported)
MASTERWORKS 059, LLC
(Exact name of issuer as specified in its charter)
| Delaware | 86-3410193 | |
| State of other jurisdiction of | (I.R.S. Employer | |
| incorporation or organization | Identification No.) |
53 BEACH STREET, 2ND FLOOR, NEW YORK, NY 10013
(Full mailing address of principal executive offices)
(203) 518-5172
(Issuer’s telephone number, including area code)
www.masterworks.io
(Issuer’s website)
Class A Ordinary Shares*
(Securities issued pursuant to Regulation A)
*No shares have been issued as of the date of this current report
Item 9. Other Events
On October 25, 2021, Masterworks 059, LLC (the “Company”) and Masterworks Investor Services, LLC (“MIS”) entered into an amended and restated engagement letter and agreement among co-managers with Independent Brokerage Solutions LLC (“Indiebrokers”) and Arete Wealth Management, LLC, which amends and replaces the engagement letter between the Company, MIS and Indiebrokers dated June 17, 2021. A copy of the Amended and Restated Engagement Letter is attached to this Form 1-U as Exhibit 1.1.
Exhibit Index
| Exhibit No. | Description of Exhibit | |
| 1.1 | Form of Amended and Restated Engagement Letter and Agreement Among Co-Managers |
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 059, LLC | ||
| By: | /s/ Joshua B. Goldstein | |
| Name: | Joshua B. Goldstein | |
| Title: | General Counsel | |
| Date: October 25, 2021 | ||
