Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 140

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 140
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 the shares of Class B Common Stock and a majority of the total combined voting power of Combined Company’s outstanding capital stock. Hut8, together with the Combined Company’s other anticipated greater than 5% stockholders, will own 89.3% of the shares of Class B Common Stock, in total representing a majority of the total combined voting power of Combined Company’s outstanding capital stock. For so long as Hut 8 owns shares of Combined Company’s capital stock that represent a majority of the combined voting power of Combined Company’s outstanding capital stock, it will be able to control any corporate action that requires a stockholder vote, regardless of the vote of any other stockholder (subject to certain limited exceptions for certain class votes). As a result, Hut 8 will (and is expected to continue to have) the ability to control significant corporate activities, including, but not limited to: •subject to the provisions of the Investors’ Rights Agreement, the election of the Combined Company Board and, through the Combined Company Board, decision -makingwith respect to the Combined Company’s business direction and policies, including the appointment and removal of its officers; •acquisitions or dispositions of businesses or assets, mergers or other business combinations; •issuances of shares of Class A Common Stock, Class B Common Stock and Class C Common Stock and the Combined Company’s capital structure generally; 56 •corporate opportunities that may be suitable for the Combined Company and Hut8, subject to the corporate opportunity provisions in the Proposed Charter; •financing activities, including the issuance of debt securities and/or the incurrence of other indebtedness generally; •stock repurchases or the payment of one -timeor recurring dividends; and •the number of shares available for issuance under equity incentive plans. This voting control will limit the ability of other stockholders to influence corporate matters and, as a result, the Combined Company may take actions that stockholders other than Hut 8 do not view as beneficial. This voting control may also discourage or have the effect of delaying, deferring or preventing transactions involving a change of control of the Combined Company, including transactions in which holders of shares of Class A Common Stock might otherwise receive a premium for their shares. Even if Hut 8 owns shares of the Combined Company’s capital stock representing less than a majority of the total combined voting power of the Combined Company’s outstanding capital stock, so long as Hut 8 owns shares representing a significant percentage of the Combined Company’s total combined voting power, Hut 8 will have the ability to substantially