secwatch.observer — SEC 8-K summary
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Issuer:     American Bitcoin Corp. (ABTC)
CIK:        0001755953
Form:       8-K
Filed at:   2023-12-20T23:59:59+00:00
Accession:  0001213900-23-097392
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1755953/000121390023097392/0001213900-23-097392-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1755953/000121390023097392/ea190140-8k425_akerna.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-097392

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