Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 481

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 481
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 the applicable fee, which stayed the suspension of the Company’s securities and the filing of the Form 25 -NSEpending the Panel’s decision. The hearing before the Panel took place on April 15, 2025. Blockfusion Contract On April 15, 2025, due to high industry hash rates and high energy costs, Gryphon Digital Mining, Inc. (the “Company”) and Blockfusion USA, Inc. (“Blockfusion”) agreed to suspend mining operations and curtail service, respectively. The Company and Blockfusion are actively collaborating to rework their Co -LocationMining Services Agreement, dated as of December 1, 2024, to enable the Company to mine profitably moving forward. The Company expects to issue additional updates as appropriate. Former CEO Litigation The Company and Ivy Crypto, Inc. held a mediation of the dispute on May 5, 2025. The mediation was unsuccessful, and the litigation remains unresolved. The potential outcome cannot be determined at this time. Note Payable On May 10, 2025, Gryphon entered into a warrant amendment with Anchorage to amend the $ 1.50Warrants. Pursuant to the Amendment, Gryphon reduced the exercise price of the $ 1.50Warrants from $ 1.50to $ 0.55per share and, subject to the closing of the Mergers, will remove Section 15 of the $ 1.50Warrants, which provides most favored nation rights. Captus Acquisition Transaction During the three months ended March 31, 2025, the Company received approximately $ 1,263,000of proceeds related to funding of the Captus transaction. As the transaction did not close as of March 31, 2025 and the funds were due to be deposited directly to a third -partycustodian, the Company classified these proceeds as Restricted cash on the face of the Company’s unaudited condensed consolidated balance sheet along with the corresponding liability. Subsequent to March 31, 2025, all funds received related to the prospective acquisition of Captus Energy were remitted to the proper custodian. As of the filing date of these financials, the Captus Acquisition has not been completed. Share Issuances Subsequent to March 31, 2025: •The Company issued 1,525,535shares of common stock for net proceeds of approximately $ 367,000in connection with the ATM. •The Company issued 1,061,476shares of