Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 857

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 857
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 the Securities Purchase Agreement. (s)“ Business Combination Closing Date Minimum Liquidity Test ” shall mean the requirement that the Company have at least $13,000,000 (as may be reduced pursuant to the last proviso hereof, the “ Test Level ”) in the aggregate of the sum of (i) cash and cash equivalents, (ii) accounts receivable (to the extent less than 30 days aging) and (iii) cash float to support product programs including any bitcoin gift cards, bitcoin rewards conversions, and bitcoin exchange products; provided, that the total amounts in aggregate under (iii) shall not exceed $10,000,000, and such amounts shall not be used to offset any existing liability; provided, further, that the Test Level shall be reduced by the total of the product of (x) $750,000 and (y) the number of months (or, for any partial month as of such date of determination, prorated for such partial month) that have elapsed between the Initial Closing Date and the date of the Business Combination Closing Date. (t)“ Business Day ” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or required by law to remain closed; provided , however , for clarification, commercial banks shall not be deemed to be authorized or required by law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential employee” or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York generally are open for use by customers on such day. (u)“ Cash” of the Company and its Subsidiaries on any date shall be determined from such Persons’ books maintained in accordance with GAAP, and means, without duplication, cash, cash equivalents (excluding any Bitcoin or any other digital currencies) and treasury bonds issued by the United States of America, accrued by the Company and its wholly owned Subsidiaries on a consolidated basis on such date, and the aggregate amount of any accounts receivable (to the extent less than 30 days from invoice date). (v)“ Change of Control” means any Fundamental Transaction other than (i) any merger of the Company or any of its, direct or indirect, wholly-owned Subsidiaries with or into any of the foregoing Persons, (ii) any re