Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 34

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 34
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 proxy statement/prospectus titled “ The Mergers — Merger Consideration — Exchange Ratio Calculation.” Q:What are the U.S. federal income tax consequences of the Mergers to ABTC stockholders? A: As discussed more fully in the section titled “ U.S. Federal Income Tax Considerations,” the Mergers, taken together, are intended to qualify as a “reorganization” within the meaning of Section 368(a)(1)(A) of the Internal Revenue Code of 1986, as amended (the “ Code”). Assuming the Mergers so qualify, U.S. Holders (as described in more xx detail in the section titled “ The Mergers — Certain Material U.S. Federal Income Tax Consequences”) that exchange their shares of ABTC Common Stock for Combined Company Common Stock will not recognize gain or loss on the exchange. Each holder of ABTC Common Stock should read the discussion set forth in the section titled “ U.S. Federal Income Tax Considerations” and should consult their tax advisor with respect to the U.S. federal, state and local and non -U.S. tax considerations of the Mergers to them in light of their particular circumstances. Q:What are the U.S. federal income tax consequences of the Mergers to Gryphon stockholders? A:Gryphon stockholders will not sell, exchange or dispose of any Gryphon Common Stock in the Mergers. Thus, there will be no U.S. federal income tax consequences to Gryphon stockholders upon the Closing. Q:What equity stake will current Gryphon stockholders hold in the Combined Company immediately after the Closing? A:Irrespective of the final calculation of the Exchange Ratio described above, Gryphon stockholders will experience significant dilution as a result of the Mergers. Upon the Closing, holders of ABTC Common Stock as of immediately prior to the First Effective Time will collectively own approximately 98.0% of the outstanding Combined Company Common Stock, on a fully diluted basis and the holders of equity interests of Gryphon as of immediately prior to the First Effective Time will collectively own approximately 2.0% of the outstanding Combined Company Common Stock, on a fully diluted basis. Q:Why are Gryphon and ABTC proposing to merge? A:Gryphon and ABTC believe that combining the two companies will result in a company focused on building the world’s largest, most efficient pure -playBitcoin miner alongside a robust strategic Bitcoin reserve. For a more complete description of