American Bitcoin Corp. (ABTC): Nasdaq/NYSE listing notice — Gryphon Digital receives Nasdaq delisting notice; settles litigation with Sphere 3D with no payments

American Bitcoin Corp.

Received delisting determination on Mar 5, 2025 for failing to regain $1.00 minimum bid price by Mar 4, 2025.
Not eligible for second 180-day compliance period because it did not meet $5M stockholders' equity requirement.
Intends to request a hearing before Nasdaq Hearings Panel to stay delisting pending decision.
Settlement with Sphere 3D Corp. resolves all pending litigation with no payments made.
Settlement provides full release from all known and unknown claims, Gryphon CEO pleased to move forward.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.99

American Bitcoin Corp. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5505(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5505(b)(1)

Exact text from the filing

March 5, 2025, the Company received a staff delist determination letter from the Nasdaq Listing Qualifications Department, as a result of its failure to regain compliance with the Minimum Bid Price Rule. The Company was not automatically eligible for a second 180-day compliance period because it did not meet the initial listing requirement of $5.0 million of stockholders’ equity, or other listing alternatives, for Nasdaq Capital Market as set forth under Nasdaq Listing Rule 5505(b)(1). The Company intends to timely request a hearing before a Nasdaq Hearings Panel (the “Panel”). This hearing re

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American Bitcoin Corp. filing history →

Source: SEC EDGAR

accession 0001213900-25-022828

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