Company: ABTC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076632
Chunk: 74

Company: American Bitcoin Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 74
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 expenses, which must be paid whether or
not the Mergers are completed. Further, if the Mergers are not completed, it could significantly harm the market price of the
Gryphon Common Stock.

In addition, if the ABTC Merger Agreement is terminated and Gryphon
determines to seek another business combination, there can be no assurance that Gryphon will be able to find a partner and close an alternative
transaction on terms that are as favorable as or more favorable to Gryphon than the terms set forth in the ABTC Merger Agreement or at
all.

The Mergers are subject to the requirements
of the HSR Act, and regulatory authorities may impose conditions that could have an adverse effect on Gryphon and/or ABTC following the
Mergers or that could delay, prevent or increase the costs associated with completion of the Mergers.

Completion of the Mergers is conditioned upon the expiration or termination
of any waiting period under the provisions of the HSR Act. Under the ABTC Merger Agreement, Gryphon and ABTC have agreed to use their
respective reasonable best efforts to obtain all necessary actions or non-actions, waivers, consents, approvals, orders and authorizations
from governmental authorities and make all necessary registrations, declarations and filings with governmental authorities, that are necessary
to consummate the Mergers. However, there can be no assurance that these approvals will be obtained and that the other conditions to completing
the Mergers will be satisfied. In addition, the governmental authorities from which the regulatory approvals are required may impose conditions
on the Closing or require changes to the terms of the ABTC Merger Agreement or other agreements to be entered into in connection with
the ABTC Merger Agreement which may delay completion of the Mergers or impose additional material costs on or materially limit the revenues
of the Combined Company following the completion of the Mergers. There can be no assurance that regulators will choose not to impose such
conditions or changes in terms, and, if imposed, such conditions or changes in terms may delay or lead to the abandonment of the Mergers.

41

The Mergers may be completed even though
certain events occur prior to the Closing that materially and adversely affect Gryphon or ABTC.

The ABTC Merger Agreement provides that either Gryphon or ABTC can
refuse to complete the Mergers if there is a material adverse effect with the other party occurring between the date of the ABTC Mer