Company: FLDDW
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001213900-25-068264
Chunk: 119

Company: Fold Holdings, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 119
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ownedsubsidiary of Emerald, entered into a Merger Agreement with Fold, pursuant to which, among other things, Merger Sub will be merged with and into Fold with Fold surviving the Merger as a wholly -ownedsubsidiary of Emerald (the “Business Combination” and, together with the other transactions contemplated by the Merger Agreement, the “Transactions”). As a result of the Transactions, Fold will become a subsidiary of Emerald, with the former stockholders of Fold becoming stockholders of Emerald. The Business Combination was consummated on February 14, 2025. The aggregate consideration paid in the Transaction consisted of shares of Emerald Class A Common Stock based on Fold’s pre -moneyequity value of $365 million, plus additional consideration of $7.0 million based on the product of (i) the Specified BTC (as defined in the Company Disclosure Letter), (ii) the difference in the 60 -dayvolume -weightedaverage price of bitcoin as of the date of the Merger Agreement and February 9, 2025, and (iii) 0.2. Description of the December 2024 Initial Investor Financing On December 24, 2024, Fold entered into the December 2024 Securities Purchase Agreement with an institutional investor (the “Investor”) pursuant to which the Investor purchased an Initial SPV Note with an aggregate principal amount of $20.0 million which is convertible to shares of Common Stock of Fold prior to the Business Combination, or shares of Common Stock of New Fold subsequent to the Business Combination. In conjunction with the Securities Purchase Agreement and Initial SPV Note, Fold also issued Series A, Series B, and Series C Warrants to the Investor (collectively with the Initial SPV Note, the “SPV Transaction”) for approximately 0.9 million, 0.5 million, and 0.9 million shares, respectively. The Series A Warrants (the “SPV Series A Warrants”) are available for exercise for a period of eight years from December 24, 2024, at an exercise price of $12.50 per share. The Series B Warrants (the “SPV Series B Warrants”) are available for exercise after the Business Combination date, for a period of eight years from December 24, 2024, at a nominal exercise price of $0.001 per share. On February 14, 2025, in connection with the closing of the Business Combination, the Investor exercised the Series B Warrants