Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 442

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 442
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 assume: (i)no exercise of Public Warrants that will remain outstanding post -BusinessCombination, which will become exercisable at the holder’s option 30 days after Closing at an exercise price of $11.50 per share, provided that Emerald has an effective registration statement under the Securities Act covering the shares of New Fold Common Stock issuable upon exercise of the Public Warrants and a current prospectus relating to them is available, which are not expected to occur within 60 days of the date of this proxy statement/prospectus. (ii)the forfeiture of all 488,041 Private Placement Warrants. The expected beneficial ownership of shares of New Fold Common Stock immediately following the Business Combination is based on three scenarios: •a “minimum additional redemptions” scenario where (i) no Public Stockholders exercise their redemption rights (after giving effect to the redemption of 112,068shares of Emerald Class A Common Stock in connection with the Third Extension Meeting on December17, 2024) and (ii) there are 48,785,545shares of New Fold Common Stock outstanding; •a “25% redemptions” scenario where 1.2million Public Shares are redeemed for an aggregate redemption payment of approximately $13.1million; and •a “maximum redemptions” scenario where 3.6million Public Shares are redeemed for an aggregate redemption payment of approximately $39.4million (this maximum redemption scenario reflects the maximum number of Emerald Public Shares that can be redeemed without violating the conditions of the Merger Agreement that Emerald cannot redeem Public Shares if it would result in Emerald having a minimum net tangible asset value of less than $5,000,001, after giving effect to the payments to redeeming stockholders). 279

|                                                           |     | Before the Business 
         Combination |     |               |   |     |           Assuming 
 Minimum Redemption |     |               |   |     |  Assuming 25% 
    Redemption |     |               |   |     |        Assuming Maximum 
 Redemption of Emerald’s 
           Public Shares |     |               |   |
| Name and Address of Beneficial Owner(1)                   |     |           Number of 
           Shares of 
             Emerald 
       Capital Stock 
        Beneficially 
               Owned |     | Percentage of 
   Outstanding 
       Emerald 
 Capital Stock |   |     |          Number of 
          Shares of 
           New Fold 
      Capital Stock 
       Beneficially 
              Owned |     | Percentage of