Company: ABTC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076632
Chunk: 222

Company: American Bitcoin Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 222
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SR 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 Merger
Agreement and the Closing. However, certain types of changes do not permit either party to refuse to complete the Mergers, even if such
change could be said to have a material adverse effect on Gryphon or ABTC, including, but not limited to:

●any changes in conditions generally affecting United States
or global economic, business, regulatory conditions, including changes in United States or global securities, credit, financial, debt
or other capital markets;

●conditions (or changes in such conditions) in the currency,
Bitcoin mining, cryptocurrency, electricity, power or natural gas industry (including changes in cryptocurrency prices, commodity prices,
general market prices and regulatory changes affecting the industry);

●general changes in national or international political conditions
(including the imposition of or changes in international tariffs, sanctions, trade policies or disputes or any “trade war”
and any cessation, outbreak or escalation of hostilities, any acts of war or terrorism or any other national or international calamity,
crisis or emergency);