Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 290

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 290
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 the final purchase consideration for accounting purposes, may differ significantly from such preliminary estimates and assumptions. Accordingly, the purchase consideration is considered preliminary and may materially change before final determination at the Closing. The changes would affect the values assigned to tangible or intangible assets and the amount of depreciation and amortization expense recorded in the Combined Company’s financial statements. The pro forma adjustments included in the unaudited pro forma condensed combined balance sheet as of March 31, 2025, are as follows: (a)To reflect the settlement of deposit of cash to a third -party . (b)To reflect the fair value adjustments of Gryphon’s fixed assets acquired by ABTC in the Transactions, offset by accumulated depreciation. (c)To reflect fair value adjustment of Gryphon’s carrying intangibles, plus the preliminary estimate of intangible assets acquired by ABTC in the Transactions. (d)To reflect the preliminary estimate of goodwill arising from the excess of the purchase consideration over the fair value of tangible and intangible assets acquired and liabilities assumed by ABTC in the Transactions. (e)To reflect the loss of deposit on the Gryphon Captus site that is not going to be developed by the Combined Company. (f)To reflect the accrual of $1.6 million in severance payments in connection with the Transactions, $0.5 million in compensation expected to be paid to certain Gryphon employees, and the $0.3 million loss on deposit related to Captus.

157 (g)To reflect the pay down of Gryphon accounts payable and accrued liabilities using funds raised from the sale of shares through at -the-market offerings . (h)To reflect the repayment of Gryphon debt through issuance of shares of common stock and the cashless exercise by Anchorage of the Anchorage warrants. (i)Adjustment to reflect the exchange of ABTC Class B Common Stock for Class B Common Stock. (j)To reflect the settlement of subscription receivables with Gryphon investors. The pro forma adjustments included to unaudited pro forma condensed combined statement of operation for the three months ended March 31, 2025, are as follows: (k)Reclassification of stock -based compensation expense to be in conformity of ABTC’s presentation. (l)To record the expense related to $1.6 million in severance payments in connection with the Transactions, $0.5 million in compensation expected to be paid to certain Gryphon employees, and loss of $0.9 million related to Captus deposit. (