Gryphon restructures $18M Anchorage debt; converts $13M to equity at $1.10/share, board seat to Anchorage

American Bitcoin Corp.

Debt reduced from ~$18M (304 BTC) to $5M; ~$13M converted into 8.3M shares and 3.5M pre-funded warrants at $1.10 per share.
New $5M loan: 4.25% interest, 3-year term, interest-only, convertible at $1.10 and $1.50 per share.
Issued warrants to purchase 2M shares at $1.50 per share, exercisable for 5 years.
Dan Grigorin, portfolio manager at Anchorage Digital, appointed to board (Class III, term through 2027).
Anchorage Digital becomes largest shareholder with board seat; stockholder approval required for conversion above 19.99%.

item 1.01 item 3.02 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Dan Grigorin

Director

ABTC · American Bitcoin Corp.

Effective: 2024-10-24
Filed: October 28, 2024, 7:59 PM ET

appointed Mr. Dan Grigorin, age 33, to fill the new Board seat as a Class III director (with a term expiring at the Company’s 2027 annual meeting of stockholders), effective immediately.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Dan Grigorin was appointed as Director at American Bitcoin Corp..

Action: appointed
Role: Director

Exact text from the filing

appointed Mr. Dan Grigorin, age 33, to fill the new Board seat as a Class III director (with a term expiring at the Company’s 2027 annual meeting of stockholders), effective immediately.

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American Bitcoin Corp. filing history →

Source: SEC EDGAR

accession 0001213900-24-090968

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