Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 464

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 464
---
612 estimated life of 5.0 years, risk-free rate of 4.07% to 4.72% and dividend rate of nil.

•A $ note payable (the “Note Payable”) pursuant to the New Loan Agreement.

•A director specified by Lender was added to the board of directors.

F-22

Gryphon Digital Mining, Inc.
Notes to the Unaudited Condensed Consolidated Financial Statements
For the Three Months Ended March 31, 2025 NOTE 7 — NOTE PAYABLE (cont.) The terms of the Note Payable include the following: •The outstanding principal and interest are denominated in dollars (as opposed to the original Bitcoin Loan that was denominated in bitcoin). • One -timepayment of in the amount of $5,000,000 on October25, 2027 •Annual interest rate of 4.25% payable monthly. •The Lender has been given a first priority lien on all the Company and its subsidiaries’ assets. •The Lender may convert half of the outstanding principal at a price of $ 1.10per share of common stock and the remaining half at a price of $ 1.50per share of common stock (for purposes of classifying the Restructured Loan, it was concluded that the conversion option did not meet the requirements to be bifurcated and classified as a derivative, nor was there a large premium paid that would be classified as an addition to paid -incapital so the conversion option is included in the value of the host instrument). •The Note Payable cannot be converted or exercised if the Lender and its affiliates would beneficially own more than 19.99% of the number of shares of common stock as of the date of the agreement after giving effect to such conversion or exercise without the approval of the Company’s stockholders, for which the Company is required to seek such approval at its next annual meeting of stockholders.

NOTE 8 — COMMITMENTS AND CONTINGENCIES

Commitments

Board Member Compensation

On October 31, 2024, the Company’s Board of Directors approved the director’s compensation program, as follows:

| Element                                                |     | Amount |         |
|:-------------------------------------------------------|:----|:-------|--------:|
| Annual equity award                                    |     | $      | 160,000 |
| Annual board cash retainer                             |     | $      |  60,000 |
| Annual Audit Committee Member Retainer                 |     |