Company: FLDDW
Filing Date: 2025-08-11
Form Type: 424B3
Source: 0001213900-25-074298
Chunk: 156

Company: Fold Holdings, Inc.
Filing Date: 2025-08-11
Form: 424B3
Chunk 156
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 35 employees as of March 31, 2025 and 22 employees as of March 31, 2024. We expect to hire additional staff in strategic roles to support the launches of our new product lines and continued growth throughout 2025. Compensation and benefits expense for the three months ended March 31, 2025 and 2024 also included non -cashshare -basedcompensation expense of $5.2 million and $0.0 million, respectively. The $5.2 million of share -basedcompensation expense for the three months ended March 31, 2025 included $4.4 million of unrecognized share -based 94 compensation expense as of December 31, 2024 that was immediately recognized due to the performance condition being satisfied on February 14, 2025 as a result of the Merger with FTAC Emerald. As the performance condition was not met as of March 31, 2024, no share -basedcompensation was recognized for the three months ended March 31, 2024. There was $5.2 million of unrecognized shared -basedcompensation expense related to unvested awards as of March 31, 2025. Marketing expenses Marketing expenses were under $0.4 million for the three months ended March 31, 2025 compared to nominal amounts for the three months ended 2024, respectively. As noted above, to further accelerate growth we plan to increase investments in paid marketing and affiliate opportunities in 2025, with a budgeted allocation of approximately $3.0 million for traditional marketing and advertising strategies. Professional fees Professional fees increased to $1.8 million for the three months ended March 31, 2025, compared to nominal amounts for the three months ended March 31, 2024. This increase was driven primarily by fees paid to our legal counsel, independent auditors, and third -partyconsultants during 2025 in support of our Merger with FTAC Emerald. Gain (loss) on customer reward liability and digital assets — rewards treasury Gain (loss) on customer reward liability and digital assets — rewards treasury include components of unrealized gains (losses) resulting from the remeasurement gain or loss for the change in fair value of bitcoin held by Fold for the purposes of fulfilling our customer rewards liability in the current reporting period, as well as realized gains (losses) that occur upon the fulfillment of customer rewards liabilities. The price of bitcoin was approximately $42.3 thousand, $