Company: FLDDW
Filing Date: 2025-07-11
Form Type: S-1
Source: 0001213900-25-062935
Chunk: 142

Company: Fold Holdings, Inc.
Filing Date: 2025-07-11
Form: S-1
Chunk 142
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 note is convertible into shares of New Fold Common Stock at a conversion price of $11.50 per share. The note is secured by Fold’s assets as collateral, including 300 of Fold’s proprietary bitcoin, and will mature three years after the closing of the Business Combination. We may continue to pursue additional capital via various capital instruments in the future, however, such funding may not be available on terms acceptable to us or at all. As of December 31, 2024, the Company recorded $171.1 million of liabilities related to SAFEs. For accounting purposes, outstanding SAFEs are classified as liabilities. However, Fold’s SAFEs were structured to be settled via the delivery of common and/or preferred shares upon execution of an equity financing or liquidity event. On February 14, 2025, upon finalization of the Merger Agreement with FTAC Emerald, all SAFE notes held by the Company converted into common shares. On March 6, 2025, the Company added debt principal due of approximately $46.3 million in the form of a convertible note. The entirety of this note relates to the “March 2025 Securities Purchase Agreement” described in the ‘Recent Developments’ section above. This note is convertible into shares of common shares at a conversion price of $15.00 per share. The Note is secured by the 475 bitcoin proceeds held as collateral and will mature March 6, 2031. For the year ended December 31, 2024 and 2023 The following table summarizes our cash flow activities:

|                                           |     | Year Ended December 31, |       2024 |   |     |   |       2023 |   |
|:------------------------------------------|:----|:------------------------|-----------:|:--|:----|:--|-----------:|:--|
| Net cash used in operating activities     |     | $                       | (3,314,951 | ) |     | $ |   (644,670 | ) |
| Net cash used in investing activities     |     |                         | (2,514,260 | ) |     |   | (3,716,557 | ) |
| Net cash provided by financing activities |     |                         | 22,668,026 |   |     |   |    500,000 |   |
| Net (decrease) increase in cash           |     | $                       | 16,838,815 |   |     | $ | (3,861,