Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 1487

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9
Chunk 1487
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 occurred
on January 14, 2022. As a result of the underwriter exercising its over-allotment option in part, the Company’s initial holders
forfeited 148,192 Founder Shares.

Warrants

As of December 31, 2024 and 2023, there were 12,434,671
Public Warrants and 488,041 Private Placement Warrants issued and outstanding. As a result of the Business Combination, 488,041 Private
Placement Warrants were cancelled for no consideration. Each whole warrant entitles the holder to purchase one share of the Company’s
Class A common stock at a price of $11.50 per share, subject to adjustment as described herein, at any time commencing 30 days after the
completion of the initial Business Combination. In addition, if (x) the Company issues additional shares of Class A common stock or equity-linked
securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective
issue price of less than $9.20 per share (with such issue price or effective issue price to be determined in good faith by the Company
and in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the initial
stockholders or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross
proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of
the initial Business Combination on the date of the completion of the initial Business Combination (net of redemptions), and (z) the volume-weighted
average trading price of the shares of Class A common stock during the 20 trading day period starting on the trading day prior to the
day on which the Company completes its initial Business Combination (such price, the “Market Value”) is below $9.20 per share,
the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the
Newly Issued Price, and the $18.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 180% of the
higher of the Market Value and the Newly Issued Price.

The warrants will expire at 5:00 p.m., New York
City time on the warrant