GSR II Meteora amends merger deal with Bitcoin Depot; sets minimum cash condition and new earnout structure

Bitcoin Depot Inc.

Fourth Amendment to Transaction Agreement adds BT HoldCo as party and revises consideration structure, including issuance of PubCo Class E shares subject to earnout.
Sponsor will forfeit up to 1.58M Class B shares; remaining shares convert to Class E tied to stock price milestones.
Minimum condition: PubCo Available Cash must be at least $8M; if below $16M, additional Class B shares convert to Class E on sliding scale.
Phantom Equity holders capped at $2M aggregate consideration, payable in cash and/or PubCo Class A shares.
Closing conditions include issuance of 44.1M Class V shares to BT Assets for $4,410 and 500,000 Class A shares to founder Brandon Mintz.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Bitcoin Depot Inc. amended Fourth Amendment with GSR II Meteora Acquisition Corp., GSR II Meteora Sponsor LLC, Lux Vending, LLC dba Bitcoin Depot, BT Assets, Inc., BT HoldCo LLC (effective 2023-06-07).

Action: amendment
Agreement: merger
Counterparty: GSR II Meteora Acquisition Corp., GSR II Meteora Sponsor LLC, Lux Vending, LLC dba Bitcoin Depot, BT Assets, Inc., BT HoldCo LLC
Effective: 2023-06-07

Exact text from the filing

On June 7, 2023, GSR II Meteora Acquisition Corp. (the “Company”), GSR II Meteora Sponsor LLC (the “Sponsor”), Lux Vending, LLC dba Bitcoin Depot (“BT OpCo”), BT Assets, Inc. (“BT Assets”) BT HoldCo LLC, a Delaware limited liability company and wholly owned subsidiary of BT Assets (“BT HoldCo” and collectively with BT OpCo and BT Assets, the “BT Entities”), entered into a Fourth Amendment (the “Fourth Amendment”) to that certain Transaction Agreement, dated August 24, 2022

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Bitcoin Depot Inc. amended First Amendment with GSR II Meteora Acquisition Corp., GSR II Meteora Sponsor LLC, BT Assets, Inc. (effective 2023-06-07).

Action: amendment
Counterparty: GSR II Meteora Acquisition Corp., GSR II Meteora Sponsor LLC, BT Assets, Inc.
Effective: 2023-06-07

Exact text from the filing

On June 7, 2023, the Company, the Sponsor and BT Assets entered into a First Amendment (the “First Amendment”) to that certain Sponsor Support Agreement, dated August 24, 2022

View on SEC.gov

281 material agreements filed in the last 30 days. Browse all material agreements →

Bitcoin Depot Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-165518

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