Gryphon restructures $18M debt, converts $13M to equity at $1.10/share; leadership changes

American Bitcoin Corp.

Converted ~$13M of 304 BTC debt (~$18M) into equity at $1.10/share (100% premium to market); remaining $5M restructured to 3-year term at 4.25% interest-only.
Anchorage becomes largest shareholder and gets board seat; restructuring strengthens balance sheet.
Steve Gutterman expanded from Director to CEO in mid-Sept; Jimmy Vaiopoulos added as Chairman; Sim Salzman continues as CFO after previously announcing retirement.
Company plans to secure low-cost power, expand mining, and move into AI hosting/computing to drive shareholder value.
CEO's performance bonuses tied to increases in share price and market capitalization, aligning with shareholder interests.

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