Company: ABTC
Filing Date: 2025-08-06
Form Type: S-3
Source: 0001213900-25-072233
Chunk: 14

Company: American Bitcoin Corp.
Filing Date: 2025-08-06
Form: S-3
Chunk 14
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Because our stockholders will not have cumulative voting rights, those stockholders holding a majority of the voting power of the then
outstanding capital stock will be able to elect all of our directors.

Except as may be provided
in the Investors’ Rights Agreement, dated as of May 9, 2025, by and between us, American Bitcoin and certain American Bitcoin
stockholders (the “Investors’ Rights Agreement”), the Proposed Charter will provide for the removal of any directors
only for cause by the affirmative vote of a majority of the voting power of our capital stock; provided, however, that prior to the Voting
Threshold Date, directors may be removed with or without cause by an action by written consent of our stockholders.

Furthermore, the board of
directors will have the exclusive right to set the size of the board. Subject to any rights applicable to any then outstanding shares
of preferred stock and except as may be provided in the Investors’ Rights Agreement, any vacancy occurring on the board of directors
and any newly created directorship may be filled only by a majority of the remaining directors in office, even if less than a quorum and
not by our stockholders unless the board of directors determines that such vacancies will be filled by stockholders. No decrease in the
authorized number of directors shall remove or shorten the term of any incumbent director. This system of electing and removing directors
and filling vacancies may discourage a third party from making a tender offer or otherwise attempting to obtain control of us because
it generally makes it more difficult for stockholders to replace a majority of the directors.

In addition, the Investors’
Rights Agreement provides that, for so long as the ABTC Class B Investor Designee (as defined therein) beneficially owns any shares
of common stock, such person will have the right to serve as a director.

Special Meetings

The Proposed Charter will
provide that special meetings of our stockholders may be called only by or at the direction of the board of directors, our chairperson
or executive chairman, chief executive officer, president or, prior to the Voting Threshold Date, secretary upon the written request by
stockholders holding a majority of the outstanding shares entitled to vote.

Amendment of Charter

The Proposed Charter will
provide that it generally may be amended by the holders of a majority of the voting power of our capital stock; provided, however, that
certain provisions of the Proposed Charter related to the number of authorized shares of our capital stock, the designations and rights