Company: ABTC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076632
Chunk: 78

Company: American Bitcoin Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 78
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 specified actions until the earlier
of the Closing or the termination of the ABTC Merger Agreement without the consent of the other party. These restrictions may prevent
Gryphon from pursuing attractive business opportunities that may arise prior to the Closing and could have the effect of delaying or preventing
other strategic transactions. Adverse effects arising from the pendency of the Mergers could be exacerbated by any delays in the Closing
or the termination of the ABTC Merger Agreement.

The market price of Gryphon Common Stock
may decline and the value of ABTC’s securities may be adversely affected as a result of the announcement and pendency of the Mergers.

The market price of Gryphon Common Stock may decline
and the value of ABTC’s securities may be adversely affected as a result of the announcement and pendency of the Mergers for a number
of reasons, including if:

●investors react negatively to the prospects of the Combined
Company’s business and financial condition following the Mergers; and/or

●the attention of Gryphon or ABTC management is directed towards
the Closing and other transaction-related considerations and is diverted from the day-to-day business operations of Gryphon or ABTC,
as applicable and matters related to the Mergers require commitments of time and resources that could otherwise have been devoted to
other opportunities that might have been beneficial to Gryphon or ABTC, as applicable.

A decline in the market price of Gryphon Common
Stock or an adverse effect upon the value of ABTC’s securities could adversely affect the businesses of, or harm the financial condition,
results of operations or business prospects of, Gryphon, ABTC or the Combined Company.

43

If the Mergers are not completed, the Gryphon
Board may decide to pursue a dissolution and liquidation of Gryphon. In such an event, the amount of cash available for distribution to
its stockholders will depend heavily on the timing of such liquidation as well as the amount of cash that will need to be reserved for
commitments and contingent liabilities.

There can be no assurance that the Mergers will
be completed. If the Mergers are not completed, the Gryphon Board may decide to pursue a dissolution and liquidation of Gryphon. In such
an event, the amount of cash available for distribution to Gryphon stockholders will depend heavily on the timing of such decision, as
with the passage of time the amount of cash available for distribution is expected to be reduced as Gryphon continues to fund