Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 315

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 315
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 the shares of New Fold Common Stock on the date the participant exercises his or her option. Upon the subsequent sale of the shares acquired upon the exercise of an option acquired under the Non -Section423 Component of the ESPP, the participant will recognize capital gain or loss (long -termor short -term, depending on how long the shares were held following the date they were purchased by the participant prior to disposing of them). New Fold or its subsidiaries or affiliates will generally be entitled to a federal income tax deduction upon the exercise of the option to the extent that the participant recognizes ordinary income, subject to Code limitations. Plan Benefits Because the number of shares that may be purchased under the ESPP will depend on each employee’s voluntary election to participate and on the fair market value of New Fold’s common stock at various future dates, the actual number of shares that may be purchased by any individual under the ESPP cannot currently be determined. Vote Required for Approval The Employee Stock Purchase Plan Proposal, under Delaware law, requires the affirmative vote of a majority of the Emerald Class A Common Stock represented in person or by proxy and entitled to vote thereon and who vote at the special meeting. Abstentions and broker non -votes, while considered present for the purposes of establishing a quorum, will not count as votes cast at the special meeting. 189 Recommendation of the EMERALD Board THE EMERALD BOARD UNANIMOUSLY RECOMMENDS THAT THE EMERALD STOCKHOLDERS VOTE “FOR” THE APPROVAL OF THE EMPLOYEE STOCK PURCHASE PLAN PROPOSAL. The existence of financial and personal interests of one or more of Emerald’s directors may result in a conflict of interest on the part of such director(s) between what he, she or they may believe is in the best interests of Emerald and its stockholders and what he, she or they may believe is best for himself, herself, or themselves in determining to recommend that stockholders vote for the Employee Stock Purchase Plan Proposal. In addition, Emerald’s directors, executive officers and the Sponsor and its affiliates may have interests in the Business Combination that may conflict with your interests as a stockholder. See the section titled “ The Business Combination — Interests of Emerald’s Directors and Officers in the Business Combination ” for a further discussion of these considerations. 190 PROPOSAL NO. 7 — THE NASDAQ PROPOSAL Overview In connection with the Business Combination, we intend to effect (subject to customary terms and conditions, including the Closing), for purposes of complying with the