Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 112

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 112
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 million shares, respectively. The Series A Warrants (the “SPV Series A Warrants”) are available for exercise for a
period of eight years from December 24, 2024, at an exercise price of $12.50 per share. The Series B Warrants (the “SPV Series
B Warrants”) are available for exercise after the Business Combination date, for a period of eight years from December 24,
2024, at a nominal exercise price of $0.001 per share. On February 14, 2025, in connection with the closing of the Business
Combination, the Investor exercised the Series B Warrants in full for 500,000 shares of Common Stock. The Series C Warrants (the
“SPV Series C Warrants”) are available for exercise for a period of one year from the Business Combination date, at an
exercise price of $11.50 per share.

Treatment of Fold Securities

Fold Preferred Stock

Immediately prior to the effective time of the
Business Combination (the “Effective Time”), Fold Preferred Stock converted into Fold Common Stock.

Fold Common Stock

At the Effective Time, Fold Common Stock converted
into Emerald Common Stock.

Fold Restricted Stock Units (“RSUs”)

At the Effective Time, outstanding Fold restricted
stock units converted into an award of Emerald restricted stock units.

Fold Simple Agreements for Future Equity (“SAFEs”)

At the Effective Time, outstanding Fold SAFEs
converted into Fold Common Stock based on the valuation caps or discount rates stated within the terms of the individual SAFE agreements.

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Redemption of Class A Common Stock

Pursuant to Emerald’s second amended and
restated certificate of incorporation and in accordance with the terms of the Merger Agreement, Emerald provided its public stockholders
with the opportunity to redeem, in connection with the Closing, their shares of Emerald Class A Common Stock for cash equal to their pro
rata share of the aggregate amount on deposit in the Emerald Trust Account, which holds the proceeds of Emerald’s initial public
offering, less taxes payable.

In February 2025, Emerald’s public stockholders
redeemed 3.3 million shares for an aggregate redemption price of $36.6 million.

Sponsor Share Restriction Agreement

Concurrently with the execution and delivery of
the Merger Agreement, Emerald ESG Sponsor, LLC and Emerald ESG Advisors, LLC (collectively, the “Sponsors”) entered into a
Sponsor Share