Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 506

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 506
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 date as determined by the Company’s Board of Directors); and (B) an amendment (the “January Trust Amendment”) to the Trust Agreement to allow the trustee to liquidate the Trust Account established in connection with the IPO at such time as may be determined by the Company as set forth in the January Charter Amendment. In connection with the January Meeting the holders of 10,872,266shares of redeemable Class A common stock exercised their right to redeem their shares for cash at a redemption price of approximately $ 10.6224per share, for an aggregate redemption amount of approximately $ 115,489,643. Following the redemptions, 4,757,884shares of redeemable Class A common stock remain outstanding. Liquidity and Capital Resources As of December 31, 2023, the Company had $ 29,844in cash and a working capital deficit of $ 3,087,967. Prior to the completion of the Company’s IPO, the Company’s liquidity needs had been satisfied through a capital contribution from the Sponsor of $ 25,000and a loan to the Company of up to $ 300,000by the Company’s Sponsor under an unsecured promissory note. The outstanding balance under the promissory note of $ 105,260was repaid on December 27, 2021, and the promissory note was terminated. In order to finance transaction costs in connection with an intended initial Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the “Working Capital Loans”). If the Company completes the initial Business Combination, the Company expects to repay such loaned amounts out of the proceeds of the Trust Account released to it. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used to repay such loaned amounts. At December 31, 2023 and 2022, $ 2,025,000and $ 0of Working Capital Loans were outstanding, respectively. F-53 FTAC EMERALD ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2023 and 2022 NOTE 1. ORGANIZATION AND BUSINESS OPERATIONS (cont.) Going Concern In connection with the Company’s assessment of going