Gryphon Digital announces stockholder approval of American Bitcoin merger

Gryphon Digital Mining (GRYP) announced that during its Special Meeting of Stockholders held on Wednesday, August 27, Gryphon stockholders approved the previously announced stock-for-stock merger transaction with American Bitcoin (ABTC). In connection with the Transaction and following approval by its Board of Directors, Gryphon will implement a reverse stock split of the Company’s outstanding shares of common stock at a ratio of 5-for-1. The Reverse Stock Split is being effected to satisfy Nasdaq’s listing requirements for minimum bid price in connection with the Transaction. The Reverse Stock Split will not impact the company’s market capitalization or the proportionate ownership interests of its stockholders, other than adjustments resulting from the treatment of fractional shares. The Reverse Stock Split is expected to become effective as of 5:00 p.m. Eastern Time on September 2. Upon closing of the Transaction, the Company’s common stock is expected to begin trading on Nasdaq on a split-adjusted basis as Class A Common Stock, under the new CUSIP number 02462A104 and the ticker symbol “ABTC,” under the American Bitcoin brand.