Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 161

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 161
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2025, the date on which the Merger Agreement was executed, the Exchange Ratio would have been equal to approximately 89.73, assuming (a) the approximate number of shares of Fully Diluted Gryphon Common Stock is 92,472,369, consisting of (i) 72,557,715shares of Gryphon Common Stock issued and outstanding, (ii) 12,397,054shares underlying outstanding warrants to purchase Gryphon Common Stock, (iii) 3,578,206shares underlying outstanding restricted stock units (“ RSUs”) of Gryphon and (iv) 3,939,394shares of Gryphon Common Stock issuable upon conversion of the Anchorage Loan Agreement, and (b) the number of shares of Fully Diluted ABTC Common Stock is 50,500,000, consisting of 50,500,000shares of ABTC Class B Common Stock issued and outstanding, in each case, as of May9, 2025. In this scenario, holders of ABTC Common Stock as of immediately prior to the First Effective Time would receive approximately 89.73shares of Class B Common Stock in exchange for each share of ABTC Class B Common Stock. As a result, holders of ABTC Common Stock as of immediately prior to the First Effective Time would receive in the aggregate approximately 4,531,146,081shares of Combined Company Common Stock at the Closing. However, circumstances could change and other issuances of ABTC Common Stock or Gryphon Common Stock prior to the Closing could affect the Exchange Ratio, and thus the number of shares of Combined Company Common Stock issued to ABTC stockholders at the Closing. For example, as described in greater detail in the section titled “ The Merger Agreement — Other Covenants and Agreements — Gryphon Reverse Stock Split,” Gryphon stockholders voted to approve a reverse split of all issued and outstanding shares of Gryphon Common Stock, at a reverse stock split ratio in the range of 1:2 to 1:40 (with such ratio to be mutually agreed to by Gryphon and ABTC pursuant to the Merger Agreement in the event the reverse stock split occurs), which may be effected at any time within one year of such approval date. In addition, as disclosed elsewhere in this proxy statement/prospectus, on June27, 2025, ABTC completed an external financing in the form of a private placement of 11,002,954shares of ABTC Class A Common Stock to third party investors. Prior