Company: FLDDW
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001213900-25-026537
Chunk: 108

Company: Fold Holdings, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 108
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 of the Merger Agreement, Emerald provided its public stockholders with the opportunity to redeem, in connection with the Closing, their shares of Emerald Class A Common Stock for cash equal to their pro rata share of the aggregate amount on deposit in the Emerald Trust Account, which holds the proceeds of Emerald’s initial public offering, less taxes payable. In February 2025, Emerald’s public stockholders redeemed 3.3 million shares for an aggregate redemption price of $36.6 million. Sponsor Share Restriction Agreement Concurrently with the execution and delivery of the Merger Agreement, Emerald ESG Sponsor, LLC and Emerald ESG Advisors, LLC (collectively, the “Sponsors”) entered into a Sponsor Share Restriction Agreement with Emerald (the “Sponsor Share Restriction Agreement”). Pursuant to the Sponsor Share Restriction Agreement, at the Closing, (i) all Emerald Warrants held by the Sponsors will be forfeited and cancelled, and (ii) approximately 5.3 million of the Sponsors’ founder shares (the “subject founder shares”) shall be subject to time-based transfer restrictions subject to early release as follows:

| ● | one-third of the subject founder shares shall remain subject to transfer restrictions until the earlier                                  
 of (a) six months following the Closing or (b) the first date that the stock price exceeds $12.00 for 20 trading days of any consecutive 
 30 trading day period ending after the date that is 90 days after the Closing;                                                           |

| ● | one-third of the subject founder shares shall remain subject to transfer restrictions until the earlier                                
 of (a) (x) in the event that Emerald and Fold raise $50 million or more as of the Closing, one year following the Closing, and (y) in  
 the event that Emerald and Fold raise less than $50 million as of the Closing, two years following the Closing, or (b) the first date  
 that the stock price exceeds $15.00 for 20 trading days of any consecutive 30 trading day period ending after the date that is 90 days 
 after the Closing; and                                                                                                                 |

| ● | one-third of the subject founder shares shall remain subject to transfer restrictions until the earlier                                 
 of (a) ten years following the Closing or (b) the first date that the stock price exceeds $17.00 for 20 trading days of any consecutive 
 30 trading day period ending after the date that is 90 days after the Closing.                                                          |

In the event that