Company: FLDDW
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001213900-25-068264
Chunk: 330

Company: Fold Holdings, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 330
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 Holdings, Inc.” and legacy Fold, Inc. continued as a wholly owned subsidiary of Fold Holdings, Inc.

The Merger was accounted for as a reverse recapitalization, with the net assets of FTAC Emerald stated at historical cost and no goodwill or other intangible assets recorded. Under this method of accounting, FTAC Emerald was treated as the acquired company for financial reporting purposes. This determination was primarily based on post-Merger relative voting rights, composition of the governing board, management and intent of the Merger. Accordingly, for accounting purposes, the Merger was accounted for as the equivalent of Fold issuing stock for the net assets of FTAC Emerald, accompanied by a recapitalization. The reported amounts from operations included herein prior to the Merger are those of Fold.

Share and per share information for all periods prior to the Merger have been retrospectively adjusted by the exchange ratio for the equivalent number of shares of common stock outstanding immediately after the Merger to effect the reverse recapitalization. Refer to Note 17 for further information. In connection with the Merger, approximately million shares of FTAC Emerald Class A common stock, par value $ per share (the “Class A Shares”), were redeemed, resulting in shares of FTAC Emerald Class A common stock outstanding. Upon finalization of the Merger, on February 14, 2025, the Company was renamed Fold Holdings, Inc. and each currently issued and outstanding share of FTAC Emerald Class A common stock automatically converted into shares of Fold Holdings, Inc. Common Stock.

The number of shares of Common Stock of Fold Holdings as of March 31, 2025 was as follows:

| Shares by Type                                            |     |       Number of 
  shares by type 
 as of March 31, 
            2025 |   |
|:----------------------------------------------------------|:----|----------------:|:--|
| FTAC Emerald total shares outstanding prior to the Merger |     |      14,237,038 |   |
| Less: Redemption of FTAC Emerald shares                   |     |      (3,304,183 | ) |
| Class A Shares of FTAC Emerald                            |     |      10,932,855 |   |
| Shares issued for Fold Common Stock                       |     |      34,067,810 |   |
| Exercise of Series B warrants                             |     |         500,000 |   |
| Issuance of March 2025 Closing Shares                     |     |         750,000 |   |