Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 519

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 519
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 $ 2,025,000and $0outstanding under the Promissory Note, respectively. Related Party Loans In order to finance transaction costs in connection with an intended initial Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the “Working Capital Loans”). If the Company completes the initial Business Combination, the Company expects to repay such loaned amounts out of the proceeds of the Trust Account released to the Company. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used to repay such loaned amounts. On January 13, 2023, the Sponsor agreed to loan the Company up to an aggregate principal amount of $ 3,000,000pursuant to the Promissory Note (as amended on October 16, 2023) described above. At December 31, 2023 and 2022, $ 2,025,000and $ 0of such Working Capital Loans were outstanding, respectively. F-60 FTAC EMERALD ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2023 and 2022 NOTE 5. RELATED PARTY TRANSACTIONS (cont.) Administrative Services Agreement The Company has entered into an administrative services agreement as of the effective date of the registration statement for the Public Offering pursuant to which the Company will pay the Sponsor or its designee a total of $ 30,000per month for office space, administrative and shared personnel support services. Upon completion of the Company’s initial Business Combination or its liquidation, the Company will cease paying these monthly fees. For the year ended December 31, 2023, the Company incurred $ 360,000for the administrative support services. For the year ended December 31, 2022, the Company incurred and paid $ 360,000for the administrative support services. As of December 31, 2023 and 2022, $ 286,451and $ 16,451of administrative support services was included in Due to related party in the accompanying balance sheets, respectively. NOTE 6. COMMITMENTS AND CONTINGENCIES Registration Rights Pursuant to a registration rights agreement entered into on December 15, 2021, the holders of the Founder