Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 552

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 552
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 |     |            |  20.0 | % |
| Exercise price          |     | $          | 11.50 |   |
| Public Warrant Price    |     | $          | 0.053 |   |

Subscription Agreement The Company evaluated the accounting for the Subscription Agreement under ASC 480 “Distinguishing Liabilities from Equity”. The Company concluded that the subscription shares to be issued as part of the bundled transaction are classified and accounted for as equity. Therefore, the proceeds are required to be allocated based on

F-85

FTAC EMERALD ACQUISITION CORP.
NOTES TO CONDENSED FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
(Unaudited) NOTE 6. COMMITMENTS AND CONTINGENCIES (cont.) the relative fair values of the base instrument of the investment amount and the Common Stock in accordance with the guidance in ASC 470 “Debt.” At September 30, 2024 and December 31, 2023, $550,000 and $0 were outstanding under the promissory note of the subscription agreement, respectively. On April 2, 2024 and January 2, 2024, Polar contributed a $200,000 Capital Contribution and a $350,000 Capital Contribution, respectively, pursuant to the Subscription Agreement. The table below summarizes the outstanding promissory note under the Subscription Agreement as of September 30, 2024:

| Principal value of promissory note January 13, 2024 |     | $ |  350,000 |   |
| Principal value of promissory note April 2, 2024    |     |   |  200,000 |   |
| Debt discount, net of amortization                  |     |   | (111,499 | ) |
| Promissory note, net of discount                    |     | $ |  438,501 |   |

Merger Agreement On July 24, 2024, the Company and Fold, Inc. announced that they have entered into an Agreement and Plan of Merger by and among the Company, EMLD Merger Sub Inc., a wholly -ownedsubsidiary of the Company, and 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 the Company. As a result of the Transactions, Fold will become a subsidiary of the Company,