---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-090968"
form_type: "8-K"
ticker: "ABTC"
cik: "0001755953"
company_name: "American Bitcoin Corp."
filed_at: "2024-10-28T23:59:59+00:00"
generated_at: "2026-05-30T09:46:08.160409+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001213900-24-090968
- form_type: 8-K
- ticker: ABTC
- cik: 0001755953
- company_name: American Bitcoin Corp.
- filed_at: 2024-10-28T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1755953/000121390024090968/0001213900-24-090968-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1755953/000121390024090968/ea0218675-8k_gryphon.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-090968
- JSON: https://secwatch.observer/filing/0001213900-24-090968.json
- Plain text: https://secwatch.observer/filing/0001213900-24-090968.txt

## Key facts
- Executive change
  Dan Grigorin was appointed as Director at American Bitcoin Corp..
  - Action: appointed
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1755953/000121390024090968/0001213900-24-090968-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.