Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 90

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 90
---
 fluctuations in Gryphon’s operating results may, in turn, cause the price of its stock to fluctuate substantially. Gryphon’s executive officers, directors and principal stockholders, if they choose to act together, may control or significantly influence all matters submitted to stockholders for approval. As of July 18, 2025, Gryphon’s executive officers, directors and greater than 5% stockholders beneficially owned, in the aggregate, approximately 27.4% of Gryphon’s outstanding common stock. As a result, such persons acting together, have the ability to control or significantly influence all matters submitted to the stockholders for approval, including the appointment of Gryphon’s management, the election and removal of directors and approval of any significant transaction, as well as Gryphon’s management and business affairs. This concentration of ownership may have the effect of delaying, deferring or preventing a change in control, impeding a merger, consolidation, takeover or other business combination involving Gryphon or discouraging a potential acquiror from making a tender offer or otherwise attempting to obtain control of Gryphon’s business, even if such a transaction would benefit other stockholders. Current or future litigation may harm Gryphon’s financial condition or results of operations. As described in the section titled “ Gryphon’s Business — Legal Proceedings” in this proxy statement/prospectus, Gryphon is engaged in litigation and such proceedings may be uncertain and adverse rulings could occur, resulting in significant liabilities, penalties or damages. Such current or future substantial legal liabilities or regulatory actions could have a material adverse effect on Gryphon’s business, financial condition, cash flows and reputation. Gryphon has received a civil investigative demand from the DOJ and a notice from the SBA relating to Gryphon’s PPP Loan under the CARES Act related to COVID-19, that the DOJ is reviewing documents related to the PPP Loan and the SBA is reviewing their prior decision to forgive Gryphon’s PPP Loan and may reverse that determination and a reversal of the determination that Gryphon is eligible for forgiveness of the PPP Loan could negatively impact Gryphon. On April 21, 2020, Gryphon, while operating the business of Akerna, obtained a loan from KeyBank National Association (“ Key Bank”) in the principal aggregate amount of $2.2 million (the “ PPP Loan”) pursuant to the Paycheck Protection Program under the CARES Act. The PPP Loan had a two -yearterm bearing interest at a rate of 1% per annum with principal and interest payments to be paid monthly