Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 446

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 446
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 with low -to -zerofees and instant withdrawals. By integrating bitcoin across traditional financial services, the Company acts as a key point of entry for consumers to engage with and integrate bitcoin into their everyday lives. The Company’s products and services are available in the United States through the Fold mobile app. The Company was incorporated in the state of Delaware on August 20, 2019. The Company is a remote -firstcompany and does not designate a physical headquarters. On July 24, 2024, the Company entered into a definitive agreement with FTAC Emerald Acquisition Corp. (“FTAC Emerald”), a publicly -tradedspecial purpose acquisition company, providing for a proposed business combination that will result in Fold becoming a publicly -listedcompany. Liquidity and capital resources As of December31, 2023, the Company had cash and cash equivalents of $1.5million, positive working capital of $2.1million, and an accumulated deficit of $36.3million. The Company has a history of net operating losses, including net operating losses of $5.9million for the year ended December31, 2023. The Company has financed its operations principally through equity financing. From January1, 2024, to July31, 2024 the Company entered into SAFEs with various investors with aggregate proceeds of $71.1million, of which $21.1million is capable of being used to support operations. During that same period the Company also received $1.0million of proceeds related to a SAFE issued in September 2023 which is capable of being used to support operations. Management expects that the Company’s existing cash and cash equivalents, accounts receivable, SAFE financings received through September30, 2024, and digital assets held will be sufficient to enable the Company to fund its anticipated level of operations through one year from the date these financial statements are available to be issued. There is limited historical financial information about the Company upon which to base an evaluation of its performance. The business is subject to risks inherent in the establishment of an emerging growth enterprise, including limited capital resources, possible delays in product development, and possible cost overruns due to price and cost increases in services. The Company may require additional capital to pursue certain business opportunities or respond to technological advancements, competitive dynamics or technologies, customer demands, challenges, or unforeseen circumstances. Additionally, the Company has incurred and expects to continue to incur significant costs related to the proposed Merger with Emerald and becoming a public company. Management anticipates raising additional