Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 350

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 350
---
, which warrants are exercisable immediately, have an unlimited term and an exercise price of $0.01 per share, in a private placement pursuant to Section 4(a)(2) of the Securities Act and (iii) the remaining $5million of the Anchorage Loan was exchanged for a new $5million loan pursuant to the New Loan Agreement. 193 Pursuant to the New Loan Agreement: •the outstanding principal and interest are denominated in dollars; •the interest rate is 4.25% payable monthly; •Anchorage has been given a first priority lien on all of Gryphon and its subsidiaries’ assets; •covenants related to mining machine locations and covenant ratios in the Anchorage Loan Agreement have been removed; and •Anchorage may convert half of the outstanding principal at a price of $1.10 per share of Gryphon Common Stock and the remaining half at a price of $1.50 per share of Gryphon Common Stock. The New Loan Agreement contains customary representations, warranties and agreements by Gryphon, customary conditions to closing, indemnification obligations of the Company and the purchasers, including for liabilities arising under the Securities Act, other obligations of the parties and termination provisions. The representations, warranties and covenants contained in the Loan Agreement were made only for the purposes of such agreements and as of specific dates, were solely for the benefit of the parties to such agreements and may be subject to limitations agreed upon by the contracting parties. Pursuant to the New Anchorage Agreements, Gryphon also issued Anchorage warrants to purchase 2,000,000shares of Gryphon Common Stock, which warrants are exercisable immediately, will expire five years from the date of issuance and have an exercise price of $1.50 per share. The $1.50 Warrants were issued in a private placement pursuant to Section 4(a)(2) of the Securities Act. On May 10, 2025, Gryphon entered into a warrant amendment with Anchorage to amend the $1.50 Warrants. Pursuant to the Amendment, Gryphon reduced the exercise price of the $1.50 Warrants from $1.50 to $0.55 per share. The Anchorage Warrants were exercised in full and on a cashless basis on June24, 2025, resulting in the issuance of an aggregate of 4,384,470shares of Gryphon Common Stock. ATM Agreement On April 19, 2024, the Company entered into an At -The-Market