Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 50

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 50
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 current economic, industry and market conditions affecting ABTC, including the market price of Bitcoin, the power costs associated with mining Bitcoin and increasing competition for production of Bitcoin; •the ABTC Board’s fiduciary duties to ABTC stockholders; •the expectation that ABTC’s current personnel will serve in similar roles at the Combined Company; •the ABTC Board’s expectation that the Mergers would be a higher probability and more cost -effectivemeans to access capital than other options considered, including an initial public offering; •the expected operations, management structure and operating plans of the Combined Company (including the ability to support the Combined Company’s plans to accumulate Bitcoin); •the business, history, operations, financial resources, assets, technology and credibility of Gryphon; •the availability of appraisal rights under the DGCL to holders of ABTC capital stock who comply with the required procedures under the DGCL, which allow such holders to seek appraisal of the fair value of their shares of ABTC capital stock as determined by the Delaware Court of Chancery; •the ability to obtain a Nasdaq listing and comply with Nasdaq listing requirements; and 3 •the terms and conditions of the Merger Agreement, including the following: •the determination that the expected relative percentage ownership of Gryphon stockholders and ABTC stockholders in the Combined Company was appropriate, based on the ABTC Board’s judgment and assessment of the outlook for Gryphon in the absence of the Mergers, including Gryphon’s standalone balance sheet condition and outstanding liabilities and ABTC’s strategy for the Combined Company; •the determination that the Exchange Ratio used to establish the number of shares of Combined Company Common Stock to be issued to ABTC stockholders in the Mergers is reasonable; •the intention that the Mergers, taken together, qualify as a “reorganization” within the meaning of Section 368(a)(1)(A) of the Code, with the intended result that upon the exchange of ABTC Common Stock by a U.S. Holder solely for Combined Company Common Stock pursuant to the Mergers, such U.S. Holder will not recognize any gain or loss; •the absence of any restriction on ABTC’s right to consider alternative acquisition proposals prior to the Closing; •the absence of any termination fee payable by ABTC upon a termination of the Merger Agreement; •the conclusion of the ABTC Board that the potential termination fee payable by Gryphon to ABTC and the circumstances under which such fee may be payable, were reasonable;