Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 151

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 151
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 from the Combined Company Board by stockholders only for cause by the affirmative vote of at least a majority of the combined voting power of the then -outstandingcommon stock (except that prior to the Voting Threshold Date (as defined herein), directors may be removed by our stockholders with or without cause by an affirmative vote of at least a majority of the combined voting power of the then -outstandingcommon stock); •do not permit cumulative voting in the election of directors, which would otherwise allow less than a majority of stockholders to elect director candidates; •authorize the issuance of “blank check” preferred stock without any need for action by stockholders; •limit the ability of stockholders to call special meetings of stockholders or to act by written consent in lieu of a meeting (except that prior to the Voting Threshold Date, special meetings of stockholders may be called by the Combined Company’s secretary at the request of stockholders holding a majority of the combined voting power of our then -outstandingcommon stock and stockholder actions may be taken by written consent in lieu of a meeting); •require the affirmative vote of at least 66 2/3% of the combined voting power of the Combined Company’s then -outstandingcommon stock, voting as a single class, to amend certain provisions of the Proposed Charter; and •establish advance notice requirements for nominations for election to the Combined Company Board or for proposing matters that may be acted on by stockholders at stockholder meetings. The foregoing factors, as well as the significant ownership of Combined Company Common Stock by Hut 8 and other principal stockholders, could impede a merger, takeover or other business combination or discourage a potential investor from making a tender offer for the Combined Company Common Stock, which, under certain circumstances, could reduce the market value of the Class A Common Stock. Further, we have opted out of Section 203 of the DGCL. Section 203 of the DGCL generally prohibits a Delaware corporation from engaging in any of a broad range of business combinations with any interested stockholder for a period of three years following the date on which the stockholder became an interested stockholder. See “ Description of Combined Company Capital Stock” in this proxy statement/prospectus. The Combined Company is not expected to pay dividends on Combined Company Common Stock and, consequently, your ability to achieve a return on your investment will depend on appreciation, if any, in the price of the common stock. ABTC has never declared or paid any cash dividend on ABTC Common Stock. Gryphon has never declared or