Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 49

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 49
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 number of shares of Combined Company Common Stock to be issued to ABTC stockholders in the Mergers is reasonable; •the intention that the Mergers, taken together, qualify as a “reorganization” within the meaning of Section 368(a)(1)(A) of the Code, with the intended result that upon the exchange of ABTC Common Stock by a U.S. Holder solely for Combined Company Common Stock pursuant to the Mergers, such U.S. Holder will not recognize any gain or loss; •the absence of any restriction on ABTC’s right to consider alternative acquisition proposals prior to the Closing; •the absence of any termination fee payable by ABTC upon a termination of the Merger Agreement; •the conclusion of the ABTC Board that the potential termination fee payable by Gryphon to ABTC and the circumstances under which such fee may be payable, were reasonable; •the belief that the other terms of the Merger Agreement, including the parties’ representations, warranties and covenants and the conditions to their respective obligations, were reasonable in light of the entire transaction; •the limited number and nature of the conditions of the obligation of Gryphon to consummate the Mergers; •the scope and nature of the conditions to ABTC’s obligation to complete the Mergers, including with respect to the continued listing on Nasdaq of the Gryphon Common Stock, the continued eligibility of Gryphon to register securities on Form S -3under the Securities Act and the termination of the Captus Agreement, in each case prior to the Closing; •that the Class A Common Stock to be issued to ABTC stockholders will be registered under the Securities Act on Form S -4and is expected to be freely tradable by ABTC stockholders that are not affiliates of ABTC; •the ABTC Support Agreement, pursuant to which ABH, which is the controlling stockholder of ABTC and a wholly owned subsidiary of Hut8, has agreed to vote its shares of ABTC capital stock in favor of the adoption of the Merger Agreement and approval of the Mergers; •the ability to obtain a Nasdaq listing and the change of the Combined Company’s name to “American Bitcoin Corp.” prior to or as of the Closing; and •the likelihood that the Mergers will be consummated on a timely basis. The ABTC Board also considered a number of uncertainties and risks in its consideration of the Mergers and the other transactions contemplated by the Merger Agreement. For a more complete description of