Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 635

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 2
Chunk 635
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 sole book-running manager for the initial public offering. The units sold in the initial public offering were registered
under the Securities Act on a registration statement on Form S-1 (No. 333-261254), which was declared effective by the SEC on December
15, 2021.

We
incurred a total of $14,181,568 in transaction costs related to the initial public offering. We paid a total of $4,973,868 in underwriting
discounts and commissions ($660,000 of which was reimbursed to us to pay the advisory fee due to CCM) and $503,430 in other costs and
expenses related to the initial public offering. In addition, the underwriter agreed to defer $8,704,270 in underwriting discounts and
commissions, which would be payable only upon consummation of an initial business combination. On October 18, 2023, we entered into an
agreement with the underwriter in which the underwriter waived any entitlement it may have to the deferred underwriting discount in respect
of any business combination.

Following the closing
of the initial public offering and the private placement, an amount of $251,180,354 ($10.10 per unit) from the net proceeds from the sale
of the units in the initial public offering and the placement units in the private placement was placed in the trust account. In connection
with the Meeting, the holders of 9,239,192 shares of redeemable Class A common stock exercised their right to redeem their shares for
cash at a redemption price of approximately $10.4762 per share, for an aggregate redemption amount of approximately $96,791,644. In connection
with the January Meeting, the holders of 10,872,266 shares of redeemable Class A common stock exercised their right to redeem their shares
for cash at a redemption price of approximately $10.6224 per share, for an aggregate redemption amount of approximately $115,489,643.
In connection with the Third Extension Meeting, the holders of 112,068 shares of redeemable Class A common stock exercised their right
to redeem their shares for cash at a redemption price of approximately $11.01878 per share, for an aggregate redemption amount of approximately
$1.2 million.

In connection with the closing
of the Business Combination, the holders of 3,304,183 shares of redeemable Class A common stock exercised their right to redeem their
shares for cash at a redemption