secwatch.observer — SEC 8-K summary
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Issuer:     Bitcoin Depot Inc. (BTM)
CIK:        0001901799
Form:       8-K
Filed at:   2023-06-13T23:59:59+00:00
Accession:  0001193125-23-165518
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1901799/000119312523165518/0001193125-23-165518-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1901799/000119312523165518/d479758d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-165518

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer