Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 297

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 297
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 amendments remove the requirement to dissolve Emerald and allow New Fold to continue as a corporate entity with perpetual existence following consummation of the Business Combination. Perpetual existence is the usual period of existence for corporations and the Emerald Board believes it is the most appropriate period following the Business Combination. In addition, certain other provisions in the Existing Charter require that proceeds from Emerald’s IPO be held in the Trust Account until a business combination or liquidation of Emerald has occurred. These provisions cease to apply once the Business Combination is consummated. Vote Required for Approval The Advisory Organizational Documents Proposals are conditioned on the approval of the Business Combination Proposal and the Nasdaq Proposal at the special meeting. The affirmative vote (in person online or by proxy) of a majority of votes cast at the special meeting is required to approve each of the Advisory Organizational Documents Proposals. Failure to vote by proxy or to vote in person online at the special meeting, an abstention from voting or a broker non -votewill have no effect on the outcome of the vote on any such Advisory Organizational Documents Proposal. As discussed above, the Advisory Organizational Documents Proposals are advisory votes and therefor are not binding on Emerald or the Emerald Board. Furthermore, the Business Combination is not conditioned on the separate approval of the Advisory Organizational Documents Proposals (separate and apart from approval of the Organizational Documents Proposal). Accordingly, regardless of the outcome of the non -bindingadvisory votes on the Advisory Organizational Documents Proposals, Emerald intends that the Proposed Charter will take effect upon consummation of the Business Combination (assuming approval of the Organizational Documents Proposal). Recommendation of the Emerald Board THE EMERALD BOARD UNANIMOUSLY RECOMMENDS THAT STOCKHOLDERS VOTE
“FOR” THE APPROVAL OF THE ADVISORY ORGANIZATIONAL DOCUMENTS PROPOSALS. 179 PROPOSAL NO. 4 — THE ELECTION OF DIRECTORS PROPOSAL Overview Pursuant to the Proposed Charter, the New Fold Board will be divided into three classes, Class I, Class II and Class III, with only one class of directors being elected in each year and each class serving a three -yearterm. The Proposed Charter provides that the authorized number of directors will be fixed exclusively by resolutions adopted by a majority of the New Fold Board. Pursuant to the Merger Agreement, immediately following the Closing, the New Fold Board will consist of seven members. Emerald’s stockholders are being asked to consider and vote upon the Election of