Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 57

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 57
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 stockholders in the Mergers, see the section of this proxy statement/prospectus titled “ The Mergers — Merger Consideration — Exchange Ratio Calculation.” As of the First Effective Time, all outstanding shares of ABTC Common Stock will no longer be outstanding, will automatically be canceled and retired and will cease to exist. Each holder of any shares of ABTC Common Stock will cease to have any rights with respect thereto, except the right to receive the Merger Consideration, as described herein and subject to the terms and conditions set forth in the Merger Agreement. Ownership of the Combined Company After the Mergers Upon the Closing, holders of ABTC Common Stock as of immediately prior to the First Effective Time will collectively own approximately 98.0% of the then -outstandingCombined Company Common Stock, on a fully diluted basis and the holders of equity interests of Gryphon as of immediately prior to the First Effective Time will collectively own approximately 2.0% of the then -outstandingCombined Company Common Stock, on a fully diluted basis. While the actual Exchange Ratio will be determined at the Closing, it is currently expected that holders of ABTC Common 7 Stock as of immediately prior to the First Effective Time will collectively represent approximately 99.99% and holders of equity interests of Gryphon as of immediately prior to the First Effective Time will collectively represent less than 0.01% of the total combined voting power of Combined Company capital stock, respectively, at the Closing. In addition, it is currently expected that at the Closing, on the same basis, Hut 8 will own (indirectly through ABH, a wholly owned subsidiary of Hut 8) approximately 64.37% of the then -outstandingCombined Company Common Stock, on a fully diluted basis, which is expected to represent approximately 80.00% of the total combined voting power of the Combined Company capital stock. See the section titled “ The Mergers — Merger Consideration.” Conditions to the Closing To complete the Mergers, Gryphon stockholders must approve the Required Proposals and ABTC stockholders must adopt the Merger Agreement and approve the Mergers and the related transactions contemplated by the Merger Agreement. In addition, each of the other Closing conditions set forth in the Merger Agreement must be satisfied or waived. See the section titled “ The Merger Agreement — Conditions to the Closing.” Efforts to Obtain Regulatory Approval Gryphon, Merger Sub Inc., Merger Sub LLC and ABTC have