Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 291

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 291
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m)Reclassification of merger and transaction expenses related to previous merger attempts by Gryphon that were not consummated. (n)To reflect the impact to depreciation as a result of fair value adjustment to Gryphon property and equipment. (o)Elimination of interest expense related to Gryphon debt eliminated upon the Closing. (p)Adjustment to net loss per share — basic and diluted from (1) the issuance of 24,285,214 shares of Gryphon Common Stock underlying certain Gryphon warrants, RSUs, options, and at -the-market issuances and (2) the exchange of 50,500,000 shares of ABTC Class B Common Stock for Class B Common Stock at the exchange ratio resulting in holders of ABTC Common Stock owning approximately 98.0% of the outstanding equity interests of the Combined Company, on a fully diluted basis. The pro forma adjustments included to unaudited pro forma condensed combined statement of operation for the year ended December 31, 2024, are as follows: (q)Reclassification of stock -based compensation expense to be in conformity of ABTC’s presentation. (r)To reflect the $0.3 million loss on deposit related to Captus. (s)To reflect the impact to depreciation as a result of fair value adjustment to Gryphon property and equipment. (t)To reflect change in accounting policy related to fair value of Gryphon debt. (u)Elimination of interest expense related to Gryphon debt eliminated upon the Closing. (v)To record transaction -related costs related to the Transactions. (w)Adjustment to net loss per share — basic and diluted from (1) the issuance of 24,285,214 shares of Gryphon Common Stock underlying certain Gryphon warrants, RSUs, options, and at -the-market issuances and (2) the exchange of 50,500,000 shares of ABTC Class B Common Stock for Class B Common Stock at the exchange ratio resulting in holders of ABTC Common Stock owning approximately 98.0% of the outstanding equity interests of the Combined Company, on a fully diluted basis. 158 5.Management Pro Forma Adjustments The management pro forma adjustments are based on the management of Gryphon’s and the management of ABTC’s assessment that, in order to fairly present the pro forma information included herein, historical unrealized gains and losses related to Bitcoin should be adjusted to only reflect the mark -to-marketimpact of Bitcoin accumulated during the historical periods presented, rather than