Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 184

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 184
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cribed to them by their trading price as of two business days prior to the special meeting, which may be substantially less than the amount they would have received upon exercise of redemption rights. See “ Questions and Answers About the Business Combination — What happens if a substantial number of stockholders vote in favor of the Business Combination Proposal and exercise redemption rights?” In particular, the shares of most companies that are the result of a recently completed business combination between a special purpose acquisition company and an operating company have traded at prices substantially below $10.00 per share. As such Public Stockholders who do not exercise redemptions right may hold securities that never obtain a value equal to or exceeding the per share value of the Trust Account. Warrants will become exercisable for New Fold Common Stock, which would increase the number of shares eligible for future resale in the public market and result in dilution to our stockholders. Outstanding Emerald Warrants to purchase an aggregate of 12,434,671shares of New Fold Common Stock will become exercisable 30 days after the completion of the Business Combination. Each whole warrant will entitle the holder thereof to purchase one share of New Fold Common Stock at a price of $11.50 per whole share, subject to adjustment. Warrants may be exercised only for a whole number of shares of New Fold Common Stock. To the extent such warrants are exercised, additional shares of New Fold Common Stock will be issued, which will result in dilution to the then existing holders of New Fold Common Stock and an increase in the number of shares eligible for resale in the public market. Sales of substantial numbers of such shares in the public market could adversely affect the market price of New Fold Common Stock. Because the market price of shares of Emerald Class A Common Stock will fluctuate, Fold’s stockholders cannot be sure of the value of the consideration they will receive in the Merger. The Merger Consideration that Fold stockholders will receive is primarily a fixed number of shares of Emerald Class A Common Stock; it is not a number of shares with a particular fixed market value. See the section entitled “ The Merger Agreement.” The market value of Emerald Class A Common Stock and Fold Capital Stock at the Closing may vary significantly from their respective values on the date the Merger Agreement was executed or at other dates, including the date on which Fold stockholders provide written consent to the adoption of the Merger Agreement and the transactions contemplated thereby. Because the Merger Consideration will not be adjusted to reflect any changes in the market value of shares of Emerald