Company: ABTC
Filing Date: 2025-08-06
Form Type: S-3
Source: 0001213900-25-072233
Chunk: 20

Company: American Bitcoin Corp.
Filing Date: 2025-08-06
Form: S-3
Chunk 20
---
 feasible to make the
distribution of property, the Bank Depositary may, with our approval, sell such property and distribute the net proceeds from such sale
to the record holders of the depositary shares.

Redemption of Depositary Shares

If we redeem a series of preferred
stock represented by depositary shares, the Bank Depositary will redeem the depositary shares from the proceeds received by the Bank Depositary
in connection with the redemption. The redemption price per depositary share will equal the applicable fraction of the redemption price
per share of the preferred stock. If fewer than all the depositary shares are redeemed, the depositary shares to be redeemed will be selected
by lot or pro rata as the Bank Depositary may determine.

Voting the Preferred Stock

Upon receipt of notice of
any meeting at which the holders of the preferred stock represented by depositary shares are entitled to vote, the Bank Depositary will
mail the notice to the record holders of the depositary shares relating to such preferred stock. Each record holder of these depositary
shares on the record date, which will be the same date as the record date for the preferred stock, may instruct the Bank Depositary as
to how to vote the preferred stock represented by such holder’s depositary shares. The Bank Depositary will endeavor, insofar as
practicable, to vote the amount of the preferred stock represented by such depositary shares in accordance with such instructions, and
we will take all action that the Bank Depositary deems necessary in order to enable the Bank Depositary to do so. The Bank Depositary
will abstain from voting shares of the preferred stock to the extent it does not receive specific instructions from the holders of depositary
shares representing such preferred stock.

Amendment and Termination of the Depositary
Agreement

The form of depositary receipt
evidencing the depositary shares and any provision of the depositary agreement may be amended by agreement between the Bank Depositary
and us. However, any amendment that materially and adversely alters the rights of the holders of depositary shares will not be effective
unless such amendment has been approved by the holders of at least a majority of the depositary shares then outstanding. The depositary
agreement may be terminated by the Bank Depositary or us only if (1) all outstanding depositary shares have been redeemed or (2) there
has been a final distribution in respect of the preferred stock in connection with any liquidation, dissolution or winding up of our company