Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 405

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 405
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 to be listed on the Nasdaq, the Combined Company will be required to comply with these provisions within the applicable transition periods. Following the Mergers, the Combined Company intends to rely on certain “controlled company” exemptions. As a result, the Combined Company is not expected to have a compensation committee and is not expected to have a nominations committee or independent nominating function. Accordingly, you may not have the same protections afforded to stockholders of companies that are subject to all of the Nasdaq corporate governance requirements. Committees of the Combined Company Board Following the Closing, Gryphon and ABTC anticipate that the Combined Company Board will establish an audit committee, which will operate pursuant to a charter adopted by the Combined Company Board. Gryphon and ABTC believe that following the Closing, the functioning and composition of this committee of the Combined Company will comply with the requirements of Nasdaq listing rules and SEC rules and regulations, which require that an audit committee be composed entirely of independent directors. The Combined Company Board may also establish other committees from time to time to assist the Combined Company and its board of directors. Each the audit committee is expected to have the responsibilities described below. Audit Committee The members of the Combined Company’s audit committee are expected to be Michael Broukhim, Justin Mateen and Richard Busch. Each of member of the Combined Company’s audit committee is expected to qualify as an independent director for audit committee purposes as deﬁned under the rules of the SEC and the applicable Nasdaq listing rules and have suﬃcient knowledge in ﬁnancial and auditing matters to serve on the Combined Company’s audit committee. The Chair of the Audit Committee is expected to be Michael Broukhim. In addition, Michael Broukhim is expected to be an “audit committee financial expert” as defined under the rules of the SEC. The primary responsibilities of the Combined Company’s audit committee will be to oversee the Combined Company’s accounting and ﬁnancial reporting processes, including the audits of the ﬁnancial statements and the internal and external audit processes. The audit committee will oversee the system of internal controls established by management and the Combined Company’s compliance with legal and regulatory requirements. The audit committee will also be responsible for the review, consideration and approval or ratiﬁcation of related party transactions. The audit committee will oversee the independent auditors, including their independence and objectivity. The audit committee will be empowered to retain outside legal counsel and other advisors as it deems necessary or appropriate to assist it in fulfilling its responsibilities and