Company: BTBT
Filing Date: 2025-06-25
Form Type: 424B5
Source: 0001213900-25-057815
Chunk: 73

Company: Bit Digital, Inc
Filing Date: 2025-06-25
Form: 424B5
Chunk 73
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A merger between a Cayman
parent company and its Cayman subsidiary or subsidiaries does not require authorization by a resolution of shareholders if a copy of
the plan of merger is given to every shareholder of each subsidiary company to be merged unless that shareholder agrees otherwise. For
this purpose, a subsidiary is a company of which at least 90% of the issued shares entitled to vote are owned by the parent company.

Except in certain limited
circumstances, a dissenting shareholder of a Cayman Islands constituent company is entitled to payment of the fair value of his or her
shares (which, if not agreed between the parties, will be determined by the Cayman Islands court) upon dissenting from a merger or consolidation,
provided the dissenting shareholder complies strictly with the procedures set out in the Companies Act. The exercise of such dissenter
rights will preclude the exercise by the dissenting shareholder of any other rights to which he or she might otherwise be entitled by
virtue of holding shares, except for the right to seek relief on the grounds that the merger or consolidation is void or unlawful.

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In addition, there are
statutory provisions that facilitate the reconstruction and amalgamation of companies by way of schemes of arrangement, provided that
the arrangement is approved by a majority in number of each class of shareholders and creditors with whom the arrangement is to be made,
and who must, in addition, represent three-fourths in value of each such class of shareholders or creditors, as the case may be, that
are present and voting either in person or by proxy at a meeting, or meetings, convened for that purpose. The convening of the meetings
and subsequently the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder or creditor
has the right to express to the court the view that the transaction ought not to be approved, the Grand Court can be expected to approve
the arrangement if it determines that:

| (a) | the statutory provisions                        
 as to the required majority vote have been met; |

| (b) | the shareholders have been                                                                                                        
 fairly represented at the meeting in question and the statutory majority are acting bona fide without coercion of the minority to 
 promote interests adverse to those of the class;                                                                                  |

| (c) | the arrangement is such                                                                                               
 that may be reasonably approved by an intelligent and honest man of that class acting in respect of his interest; and |

| (d) | the arrangement is