SEC Contract Filing

Filing Date: 2024-09-13

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ef20035878_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
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 <div style="font-weight: bold; text-align: right; font-size: 10pt;">Exhibit 10.2<br>
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 <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">AMENDMENT NO. 1 TO THE AGREEMENT AND PLAN OF MERGER</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">This AMENDMENT NO. 1 TO THE AGREEMENT AND PLAN OF MERGER, dated as of September 12, 2024 (this &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Amendment</u></font>&#8221;), is entered into by and among Bitfarms Ltd., a corporation organized under the Business Corporations Act (Ontario) (&#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Parent</u></font>&#8221;), Backbone Mining Solutions LLC, a Delaware limited liability company and a wholly owned, indirect Subsidiary of Parent (&#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>BMS</u></font>&#8221;),
 HPC &amp; AI Megacorp, Inc., a Delaware corporation and a wholly owned, direct Subsidiary of BMS (&#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Merger Sub</u></font>&#8221;), and Stronghold Digital Mining, Inc., a
 Delaware corporation (the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Company</u></font>&#8221;).&#160; Each of Parent, BMS, Merger Sub, and the Company are referred to herein as a &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Party</u></font>&#8221; and together as &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Parties</u></font>.&#8221;</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">WHEREAS, on August 21, 2024, the Parties entered into the Agreement and Plan of Merger (the &#8220;<font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Merger Agreement</u></font>&#8221;); and</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">WHEREAS, in accordance with Section 9.12 of the Merger Agreement, the Parties desire to amend the Merger Agreement as set forth herein.</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are
 hereby acknowledged, the Parties hereby agree as follows:</div>
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 <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">1.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><u><font style="font-family: 'Times New Roman'; font-weight: bold;">Definitions</font></u><font style="font-family: 'Times New Roman';">. Each capitalized term used but not otherwise defined herein shall have the meaning ascribed to such term in the
 Merger Agreement, as amended hereby.</font></font></font></div>
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 <div style="text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">2.</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman';"><font style="font-family: 'Times New Roman'; font-weight: bold;"><u>Amendments to the Merger Agreement</u></font><font style="font-family: 'Times New Roman';"><u>.</u></font></font></font></div>
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 <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(a)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">The first
 sentence of Section 4.2(a) of the Merger Agreement is hereby amended and restated to read as follows:</font></font></div>
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 <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;As of the date of this Agreement, the authorized capital stock of the Company consists of (i) 238,000,000 shares of
 Company Class A Common Stock, (ii) 50,000,000 shares of Company Class V Common Stock and (iii) 50,000,000 shares of preferred stock, par value $0.0001 per share (&#8220;<font style="font-family: 'Times New Roman';"><u>Company Preferred Stock</u></font>&#8221;
 and, together with the Company Common Stock, the &#8220;<font style="font-family: 'Times New Roman';"><u>Company Capital Stock</u></font>&#8221;).&#8221;</div>
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 <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(b)</font><font style="font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman';">Section
 6.1(b)(ii) of the Merger Agreement is h