Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 257

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 257
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 waiting periods under the HSR Act, the Antitrust Division of the DOJ and the FTC may take action under the antitrust laws, including seeking to enjoin the completion of the Business Combination, to rescind the Business Combination or to conditionally permit completion of the Business Combination subject to regulatory conditions or other remedies. In addition, non -U.S. regulatory bodies and U.S. state attorneys general could take action under other applicable regulatory laws as they deem necessary or desirable in the public interest, including, without limitation, seeking to enjoin or otherwise prevent the completion of the Business Combination or permitting completion subject to regulatory conditions. Private parties may also seek to take legal action under regulatory laws under some circumstances. There can be no assurance that a challenge to the Business Combination on antitrust grounds will not be made or, if such a challenge is made, that it would not be successful. Emerald and Fold are not aware of any other regulatory approvals in the United States required for the consummation of the Business Combination. Accounting Treatment of the Business Combination The Business Combination is expected to be accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, Emerald will be treated as the acquired company and Fold will be treated as the acquirer for financial reporting purposes. Accordingly, for accounting purposes, the financial statements of New Fold will represent a continuation of the financial statements of Fold, with the Business Combination treated as the equivalent of Fold issuing stock for the historical net assets of Emerald, accompanied by a recapitalization. The net assets of Emerald will be stated at fair value, which is expected to approximate historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination will be those of Fold. Sources and Uses of Funds The following table summarizes the sources and uses for funding the Business Combination assuming no redemptions of any Public Shares in addition to those made subsequent to September30, 2024, and approximately $50.8million of cash remaining in the Trust Account:

| Sources:                                 
 ($ in millions)                          |     |   |       |     | Uses:                 |     |   |       |
|:-----------------------------------------|:----|:--|------:|:----|:----------------------|:----|:--|------:|
| Fold Rollover Equity                     |     | $ | 365.0 |     | Fold Rollover Equity  |     | $ | 365.0 |
| Proceeds from Trust Account              |     |   |