Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 202

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 202
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 subsidiary of Hut8, will control 80% of the shares of Class B Common Stock and a majority of the total combined voting power of the Combined Company’s outstanding capital stock. Under these rules, a Nasdaq -listedcompany of which more than 50% of the voting power is held by an individual, group or another company is a “controlled company” and may elect not to comply with certain corporate governance requirements, including the requirement that a majority of the board of directors consist of independent directors; the requirement that director nominations be made or recommended to the full board of directors, by independent directors or by a nominating committee that is composed entirely of independent directors; and the requirement to have a compensation committee that is composed entirely of independent directors. The Combined Company will therefore be a “controlled company” under Nasdaq listing rules and will qualify for and intends to rely on, exemptions from certain governance standards that would otherwise be applicable. Following the Mergers, the Combined Company intends to rely on certain “controlled company” exemptions. As a result, the Combined Company is not expected to have a compensation committee and is not expected to have a nominations committee or independent nominating function. Pursuant to the Investors’ Rights Agreement, at all times when the Combined Company qualifies as a “controlled company” under the applicable rules of Nasdaq, except to the extent otherwise agreed in writing by ABH, the Combined Company will take all necessary action to avail itself of all “controlled company” exemptions to the rules of Nasdaq or any other exchange on which the equity securities of the Combined Company are then listed and will comply with all requirements under the law and all applicable disclosure requirements to take such actions. Appraisal Rights and Dissenters’ Rights Gryphon Under the DGCL, Gryphon stockholders are not entitled to appraisal or dissenters’ rights in connection with the Mergers. ABTC ABTC stockholders who hold voting common stock are entitled to appraisal rights in connection with the Mergers under Delaware law. 97 The discussion below is not a complete summary regarding ABTC stockholders’ appraisal rights under Delaware law and is qualified in its entirety by reference to the text of the relevant provisions of Delaware law, which are attached as Annex H. Stockholders intending to exercise appraisal rights should carefully review Annex H. Failure to follow precisely any of the statutory procedures set forth in Annex Hmay result in a termination or waiver of these rights. This summary does not constitute legal or other advice, nor does it constitute a recommendation that ABTC stockholders exercise their