Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 529

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 529
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 certain stock exchange listing qualification requirements, such as the Company to maintain a stock price of at least $ 1.00and maintain MVLS of at least $ 35,000,000(the “Deficiencies”). The Company had a period of 180 calendar days, or until March 4, 2025 to regain compliance with the minimum bid price requirement. Also, the Company had a period of 180 calendar days, or until March 12, 2025, to regain compliance with the $ 35,000,000MVLS Requirement. As of the issuance of these financial statements, the Company had not remedied the Deficiencies and received a delisting notice for each the two Deficiencies. As part of the Nasdaq’s delisting policy, the Company has the right to petition for a hearing with the Nasdaq’s board. The Company has submitted petitions for each of the Deficiencies and will present a compliance plan to a Nasdaq Hearing Panel on April 15, 2025. NOTE 9 — STOCKHOLDERS’ DEFICIT As of December 31, 2024, the Company has 155,000,000shares authorized, of which 150,000,000shares are common stock and 5,000,000shares are preferred stock, of which no class has been designated. In February 2024, the Company filed a certificate of amendment to the amended and restated articles of incorporation (“Amendment”) to authorize a reverse stock split. Effective with the Amendment every twenty ( 20) shares of the Company’s issued and outstanding common stock were converted into one ( 1) share of the Company’s issued and outstanding common stock (“Stock Split”). The per shares numbers and amounts as presented in these financial statements have been adjusted for the Stock Split. In February 2024, the Company filed certificates of elimination of certificate of designation for each of the (i) series A convertible redeemable preferred stock, (ii) series B convertible redeemable preferred stock, (iii) series C preferred stock and (iv) special voting preferred stock. The designated number of shares for each of these designated preferred series have been reverted back to unissued preferred stock. Private Placement On January 31, 2024, the Company initiated a private placement for the sale of the Company’s common stock for a purchase price of $ 2.83per share. The Company issued 493,791shares of common stock for total proceeds of $ 1,395,000. At The Market Offering (AT