Akerna creates Series C Preferred Stock with 2,000:1 voting ratio and redemption features

American Bitcoin Corp.

Authorized 3,244 Series C shares, each with $1,000 par value and voting power equal to 2,000 common shares.
Voting capped at 19.99% for any holder; purchase rights participation capped at 4.99% beneficial ownership.
Company may redeem all outstanding shares at stated value plus unpaid dividends; holders may require redemption after Jan 25, 2024 or merger termination.
Automatic redemption/exchange upon a Permitted Change of Control, subject to the 19.99% cap.
Series C issued in connection with proposed merger with Gryphon Digital Mining and MJ Acquisition Corp.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

American Bitcoin Corp.: Filed Certificate of Designations designating 3,244 shares of Series C Non-Convertible Preferred Stock with specified preferences, rights and limitations (effective 2023-12-14).

Change: charter amendment
Effective: 2023-12-14

Exact text from the filing

On December 14, 2023, the Company filed with the Secretary of the State of Delaware a Certificate of Designations of Preferences, Rights and Limitations of the Series C Preferred Stock (the “Certificate of Designations”) designating 3,244 shares as Series C Preferred Stock and designating the preferences, rights and limitations of such shares of Series C Preferred Stock.

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American Bitcoin Corp. filing history →

Source: SEC EDGAR

accession 0001213900-23-097392

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