Company: ABTC
Filing Date: 2025-09-03
Form Type: 424B5
Source: 0001213900-25-083737
Chunk: 34

Company: American Bitcoin Corp.
Filing Date: 2025-09-03
Form: 424B5
Chunk 34
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Bylaws will establish advance notice procedures with respect to stockholder proposals and the nomination of candidates for election as
directors, other than nominations made by or at the direction of the board of directors or a committee thereof.

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Classified Board;
Election and Removal of Directors; Filing Vacancies

The Proposed Charter will
provide that the board of directors will be divided into three classes, Class I, Class II and Class III, divided as nearly
as equal in number as possible. The directors in each class will serve for a three-year term, one class being elected each year by
our stockholders, with staggered three-year terms. Class I directors shall initially serve for a term expiring at the first annual
meeting of our stockholders following the closing of the Mergers, Class II directors shall initially serve for a term expiring at
the second annual meeting of our stockholders following the closing of the Mergers and Class III directors shall initially serve
for a term expiring at the third annual meeting of our stockholders following the closing of the Mergers. Only one class of directors
will be elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms.
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