Company: FLDDW
Filing Date: 2025-07-11
Form Type: S-1
Source: 0001213900-25-062935
Chunk: 304

Company: Fold Holdings, Inc.
Filing Date: 2025-07-11
Form: S-1
Chunk 304
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OLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2024 NOTE 4. PRIVATE PLACEMENT (cont.) On October 25, 2024, the Company issued the October Note to Frontier. Pursuant to the October Note, Frontier agreed to loan the Company up to an aggregate principal amount of $ 2,000,000. The October Note is non -interestbearing and all outstanding amounts under the October Note will be due on the date on which the Company consummates a Business Combination. No portion of the amounts outstanding under the October Note may be converted into units or shares. As of December 31, 2024 and 2023, there was $ 1,218,651and $ 0outstanding under the October Note, respectively. As a result of the Business Combination the October Note was repaid. On October 31, 2024, the Company issued the Tax Note to Frontier. Pursuant to the Tax Note, Frontier agreed to loan the Company an aggregate principal amount of $ 973,116, which was used to satisfy the Company’s excise tax liability. The Tax Note is non -interestbearing and all outstanding amounts under the Tax Note will be due on the date on which the Company consummates a Business Combination. No portion of the amounts outstanding under the Tax Note may be converted into units or shares. As of December 31, 2024 and 2023, there was $ 973,116and $ 0outstanding under the Tax Note, respectively. As a result of the Business Combination the Tax Note was repaid. 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, the Company will cease paying these monthly fees. For the years ended December 31, 2024 and 2023, the Company incurred $ 360,000and $ 360,000for the administrative support services, respectively. As of December 31, 2024 and 2023, $ 646,451and $ 286,451of administrative support services was included in Due to related party in the accompanying consolidated balance sheets, respectively. As a result of the Business Combination, the Company’s obligations under the administrative services agreement were terminated. NOTE 5. COMMIT