Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 87

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 87
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 per share (the “ Pre -Funded Warrants”), in a private placement pursuant to Section 4(a)(2) of the Securities Act and (iii) the remaining $5 million of the Anchorage Loan was exchanged for a new $5 million loan (the “ Restructured Loan”) pursuant to the New Loan Agreement. Gryphon also issued Anchorage warrants to purchase 2,000,000shares of Gryphon Common Stock, which warrants are exercisable immediately, will expire five years from the date of issuance and had an exercise price of $1.50 per share (the “ $1.50 Warrants” and, together with the Pre -FundedWarrants, the “ Anchorage Warrants”). The $1.50 Warrants were issued in a private placement pursuant to Section 4(a)(2) of the Securities Act. On May 10, 2025, Gryphon entered into a warrant amendment (the “ Amendment”) with Anchorage to amend the $1.50 Warrants. Pursuant to the Amendment, Gryphon reduced the exercise price of the $1.50 Warrants from $1.50 to $0.55 per share. The Anchorage Warrants were exercised in full and on a cashless basis on June24, 2025, resulting in the issuance of an aggregate of 4,384,470shares of Gryphon Common Stock. The New Loan Agreement contains certain covenants that limit Gryphon’s ability to engage in certain transactions that may be in Gryphon’s long -termbest interest. Subject to certain limited exceptions, these covenants do or may limit Gryphon’s ability to or prohibit Gryphon from permitting any of its subsidiaries to, as applicable, among other things: •make any conveyance, sale, lease, division, sale and leaseback, assignment, transfer or other disposition of assets, subject to certain exceptions; •create, incur, assume or be liable for any additional indebtedness or create, incur, allow or permit to exist any additional liens, subject to certain exceptions; •make any dividend or other distribution on Gryphon shares or any payment (whether in cash, securities or other property) on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Gryphon shares or on account of any return of capital to Gryphon’s shareholders in respect of their shares; or •merge or consolidate with another entity. While Gryphon has not previously breached and is currently in compliance with the covenants contained in