Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 196

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 196
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 with the required procedures under the DGCL, which allow such holders to seek appraisal of the fair value of their shares of ABTC capital stock as determined by the Delaware Court of Chancery; •the ability to obtain a Nasdaq listing and comply with Nasdaq listing requirements; and •the terms and conditions of the Merger Agreement, including the following: •the determination that the expected relative percentage ownership of Gryphon stockholders and ABTC stockholders in the Combined Company was appropriate, based on the ABTC Board’s judgment and assessment of the outlook for Gryphon in the absence of the Mergers, including Gryphon’s standalone balance sheet condition and outstanding liabilities and ABTC’s strategy for the Combined Company; 92 •the determination that the Exchange Ratio used to establish the 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 stock