Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 194

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 194
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 Merger Agreement to accept an unsolicited acquisition proposal in certain circumstances, subject to payment of a termination fee; 90 •the Gryphon Support Agreements and the ABTC Support Agreement, pursuant to which certain securityholders of Gryphon and a stockholder of ABTC, respectively, have agreed, solely in their capacities as stockholders, to vote all of their shares of Gryphon Common Stock or ABTC Common Stock, as applicable, in favor of the proposals submitted to them in connection with the Mergers and against any alternative acquisition proposals; •the conclusion of the Gryphon Board that the potential termination fee of $5,000,000, in addition to the out -of-pocketfees and expenses incurred by or on behalf of ABTC in connection with the transactions contemplated by the Merger Agreement, that may be payable by Gryphon to ABTC and the circumstances when such fees may be payable, are reasonable. In the course of its deliberations, the Gryphon Board also considered a variety of risks and other countervailing factors related to entering into the Merger Agreement, including: •the potential effect of the $5,000,000 termination fee and other fees and expenses potentially payable by Gryphon to ABTC upon the occurrence of certain events, including in deterring other potential acquirors from proposing an alternative acquisition proposal that may be more advantageous to Gryphon stockholders; •the prohibition on Gryphon to solicit alternative acquisition proposals during the pendency of the Mergers; •the substantial expenses to be incurred by Gryphon in connection with the Mergers; •the possible volatility of the trading price of the Gryphon Common Stock resulting from the announcement, pendency or the Closing; •the risk that the Mergers might not be consummated in a timely manner or at all; •the fact that the representations and warranties in the Merger Agreement do not survive the Closing and the potential risk of liabilities that may arise following the Closing; •the lack of availability of appraisal rights under the DGCL to holders of Gryphon Common Stock which would not allow holders to seek appraisal of the fair value of their shares of Gryphon Common Stock; and •the various other risks associated with the Combined Company and the transaction, including those described in the sections entitled “ Risk Factors” and “ Cautionary Statement Concerning Forward -Looking Statements” in this proxy statement/prospectus. The foregoing information and factors considered by the Gryphon Board are not intended to be exhaustive but are believed to include all of the material factors