Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 71

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 71
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, which means that when a standard is issued or revised and it has different application dates for public or private companies, Emerald, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of Emerald’s financial statements with certain other public companies difficult or impossible because of the potential differences in accounting standards used. 34 Emerald will remain an emerging growth company until the earlier of: (1) the last day of the fiscal year (a) following the fifth anniversary of the closing of Emerald’s initial public offering (i.e., December 31, 2026), (b) in which it has total annual gross revenue of at least $1.235 billion or (c) in which Emerald is deemed to be a “large accelerated filer” under the rules of the SEC, which means the market value of Emerald’s common equity that is held by non -affiliatesexceeds $700 million as of the end of the prior fiscal year’s second fiscal quarter; and (2) the date on which Emerald will have issued more than $1.0 billion in non -convertibledebt securities during the prior three -yearperiod. Summary of Risk Factors In evaluating the Business Combination and the proposals to be considered and voted on at the special meeting of Emerald stockholders, you should carefully read this proxy statement/prospectus, including the annexes, and especially review and consider the factors discussed in the section entitled “ Risk Factors” beginning on page 43 of this proxy statement/prospectus. Some of the risks related to Fold’s business and industry, Emerald, and the Business Combination are summarized below. Risks Related to Fold’s Business and Industry •Our operating results have and will significantly fluctuate, including due to the highly volatile nature of Bitcoin. •Changes in card network rules or standards could adversely affect our business. •We operate in a highly competitive industry and we compete against companies with greater financial and other resources, and our business, operating results, and financial condition may be adversely affected if we are unable to respond to our competitors effectively. •Our long -termsuccess depends on our ability to develop new and innovative products and services to address and keep pace with the rapidly evolving market for payments and financial services, and, if we are not able to implement successful enhancements and new features for our products and services, our business, operating results and financial condition could be materially and adversely affected. •If we cannot keep pace with rapid industry changes to provide new