Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 801

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 801
---
/or the Business Combination Closing Date, as applicable, and prior to the payment of such Special Interest Payment (as defined below) in cash to the Holder, any such unpaid Special Interest Payment shall be included in the Conversion Amount hereunder as outstanding additional Interest hereunder solely for any Alternate Conversions or redemptions of this Note; provided, that the Holder shall forfeit such pro rata portion of any BC Success Payment corresponding to any Conversion Amount converted with respect to any Alternate Conversion on or after the Business Combination Closing Date and prior to the BC Trigger Date. The “ BC Default Payment ” shall equal (i) the product of (A) 0.75 and (B) the initial Conversion Amount of this Note as of the date hereof, minus (ii) (A) the aggregate amount of all Cash Interest paid on or before the BC Trigger Date, plus (B) the value of any Interest Shares (as set forth in the applicable Interest Election Notice) issued on or before the BC Trigger Date. The “ BC Success Payment ” shall equal (i) the product of (A) 0.5 and (B) the Conversion Amount of this Note as of the Maturity Date minus (ii) (A) the aggregate amount of all Cash Interest paid on or before the BC Trigger Date, plus (B) the value of any Interest Shares (as set forth in the applicable Interest Election Notice) issued on or before the BC Trigger Date. Each of the BC Success Payment and BC Default Payment are referred to therein as a “ Special Interest Payment ”. 3. CONVERSION OF NOTES . At any time after the Issuance Date, this Note shall be convertible into validly issued, fully paid and non-assessable shares of Common Stock (as defined below), on the terms and conditions set forth in this Section 3. (a) Conversion Right . Subject to the provisions of Section 3(d), at any time or times on or after the Issuance Date, the Holder shall be entitled to convert any portion of the outstanding and unpaid Conversion Amount (as defined below) into validly issued, fully paid and non-assessable shares of Common Stock in accordance with Section 3(c), at the Conversion Rate (as defined below). The Company shall not issue any fraction of a share of Common Stock upon any conversion. If the issuance would result in the issuance of a fraction of a share of Common Stock, the Company shall round such fraction of a share of Common Stock up to the nearest whole share. The