Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 49

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 49
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 Board met to review the proposed Mergers. During this meeting, Marshall & Stevens reviewed with the Gryphon Board certain financial analyses and rendered its oral opinion to the Gryphon Board, which opinion was confirmed by delivery of a written opinion, dated May 15, 2025 (the “ M&S Opinion”), to the effect that, as of May 7, 2025 and based on and subject to the matters described in its opinion, the purchase price being paid by Gryphon for ABTC in the transaction was fair, from a financial point of view, to Gryphon. 2 The full text of the M&S Opinion, which sets forth, among other things, the assumptions made, matters considered and limitations on the scope of review undertaken by Marshall & Stevens in rendering its opinion, is attached as Annex Hand is incorporated into this proxy statement/prospectus by reference in its entirety. ABTC’s Reasons for the Approval of the Mergers In the course of reaching its decision to approve the Mergers, the ABTC Board consulted with ABTC’s and Hut 8’s senior management and legal counsel and considered a wide variety of factors. Ultimately, the ABTC Board concluded that the Mergers represented the best option to generate capital resources to support the growth and advancement of ABTC’s business. Factors the ABTC Board considered included the following (which factors are not necessarily presented in any order of relative importance): •the Mergers will potentially expand the access to capital and the range of investors available as a public company to support the growth of ABTC’s business, compared to the capital and investors to which ABTC could otherwise gain access if it continued to operate as a privately -heldcompany; •the ABTC Board’s belief that no alternatives to the Mergers were reasonably likely to create greater value for ABTC stockholders, after considering the various financing and other strategic options to enhance stockholder value; •the information concerning ABTC’s business, including its financial performance and condition, operations, management and strategic objectives and prospects; •the prospects of ABTC as a stand -aloneentity and the possible strategic growth opportunities that may be available to ABTC in the absence of the Mergers; •the cash resources of the Combined Company expected to be available at the Closing; •the potential to provide ABTC stockholders with greater liquidity by owning stock in a public company; •the potential benefits from increased public market awareness of ABTC; •the competitive nature of the industry in which ABTC operates; •the