Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 479

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 479
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 amended and restated, the “Merger Agreement”), pursuant to which Merger Sub will merge (the “Merger”) with and into Fold, whereupon the separate corporate existence of Merger Sub will cease and Fold will be the surviving company and continue in existence as a wholly owned subsidiary of FTAC Emerald, on the terms and subject to the conditions set forth therein (collectively with the other transactions described in the Merger Agreement, the “Business Combination”). In connection with the consummation of the Business Combination, FTAC Emerald will be renamed “Fold Holdings, Inc.” SAFEs From January 1 to July31, 2024, the Company entered into six SAFEs (the “2024 SAFEs”) with various investors, including Thesis Inc., a related party of the Company, with aggregate gross proceeds from these agreements totaling $71.1million. All of the proceeds were collected through September 2024. Three of the 2024 SAFEs (the “Bitcoin SAFEs”), totaling $64.1million, were funded with bitcoin that the Company held in treasury as of September30, 2024. Two of the Bitcoin SAFEs, totaling $50.0million (the “Purchase Amount”), stipulate that the Company agrees to use the bitcoin received exclusively for treasury purposes, defined herein as holding the bitcoin as a long -terminvestment, and that the Company may not use the bitcoin for operational or any other purposes during the eighteen (18) months beginning from the date of issuance. If there is a Public Offering before the termination of these SAFEs, they will automatically convert into a number of shares of New Public Preferred Stock equal to the Purchase Amount divided by the applicable Public Offering Conversion Price. If there is no Public Offering before the termination of these SAFEs, at the written election of the Investor, (A) the Company shall transfer to the Investor the number of Bitcoins that the Investor paid to the Company on account of the Purchase Amount, or (B) the Safe shall be

F-27 Fold, Inc.
Notes to Financial Statements 16. SUBSEQUENT EVENTS (cont.) converted into the number of shares of a new series of Preferred Stock of the Company (the “New Private Preferred Stock”), equal to the Purchase Amount divided by the No Public Offering Conversion Price. The remaining terms for the other SAFEs issued in 2024 reflect similar rights to, and obligations of, the Company as historically issued SAFEs. During the year ended December31, 2023, the Company entered into a SAFE