Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 177

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 177
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 the Captus Agreement be terminated or assigned prior to the Closing as it does not fit into their business plans, as well as the lack of certainty in Gryphon’s ability to raise the Captus Consideration on acceptable terms or at all and to raise funding to develop the Captus Assets following their acquisition or being able to regain Nasdaq compliance if it pursued this acquisition, reviewed the due diligence conducted by Gryphon and its advisors on ABTC and evaluated the fairness opinion presented by Marshall & Stevens and based on the factors set forth in the section titled “ The Mergers — Gryphon’s Reasons for the Approval of the Mergers,” the Gryphon Board unanimously: determined that the Merger Agreement, the Mergers and the other transactions contemplated thereby are advisable, fair to and in the best interests of Gryphon and its stockholders; approved, adopted and declared advisable the Merger Agreement and the Mergers; and determined to solicit, upon the terms and subject to the conditions set forth in the Merger Agreement, the approval of the Gryphon stockholders of the Proposals. Later on May 9, 2025, the parties and their respective advisors resolved the remaining open issues in the transaction documents, within parameters previously set by the Gryphon Board. Thereafter, late in the evening of May 9, 2025, the parties executed the Merger Agreement, the Investors’ Rights Agreement, the Gryphon Support Agreements and the ABTC Support Agreement. On May 12, 2025, prior to the opening of Nasdaq for trading, Gryphon, ABTC and Hut 8 issued press releases and each of Gryphon and Hut 8 filed a Current Report on Form 8 -K, announcing the entry into the Merger Agreement. On June2, 2025, Gryphon and the Captus Purchaser entered into the Assignment and Amending Agreement. Pursuant to the Assignment and Amending Agreement, among other things, the Captus Assignee assumed all benefits, rights, obligations and liabilities of Gryphon under the Captus Agreement from and after the effective date of the Assignment and Amending Agreement. The Vendors, on one hand, and Gryphon and the Captus Purchaser, on the other hand, each provided the other with a release and discharge of all obligations and liabilities under the Captus Agreement as of the effective date of the agreement. 79 Concurrently with the execution of the Assignment and Amending Agreement, Gryphon and the Captus Purchaser entered into the Assignment Side