Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 824

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 3
Chunk 824
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 who exercise their warrants to do so on a “cashless
basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, it will not be required
to file or maintain in effect a registration statement, and in the event the Company does not so elect, it will use its best efforts to
register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. In such event, each holder
would pay the exercise price by surrendering the warrants for that number of shares of Class A common stock equal to the quotient obtained
by dividing (x) the product of the number of shares of Class A common stock underlying the warrants, multiplied by the excess of the “fair
market value” (defined below) less the exercise price of the warrants by (y) the fair market value. The “fair market value”
as used in this paragraph shall mean the volume weighted average price of the Class A common stock for the 10 trading days ending on the
trading day prior to the date on which the notice of exercise is received by the warrant agent.

F-19

FOLD HOLDINGS, INC.

(F/K/A FTAC EMERALD ACQUISITION CORP.)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

Redemption of warrants

Once the warrants become exercisable, the Company
may redeem the outstanding warrants:

●in
whole and not in part;

●at
a price of $0.01 per warrant;

●upon
not less than 30 days’ prior written notice of redemption, or the 30-day redemption period, to each warrant holder; and

●if,
and only if, the last sale price of the Class A common stock (or the closing bid price of the Class A common stock in the event
the shares of Class A common stock are not traded on any specific trading day) equals or exceeds $18.00 per share (as adjusted for
stock splits, stock dividends, reorganizations and the like) for any 20 trading days within a 30 trading day period ending on the third
trading day before the Company sends the notice of redemption to the warrant holders.

NOTE 8. FAIR VALUE MEASUREMENTS

The following table presents information about
the Company’s assets that are measured at fair value on December 31, 2024 and 2023, and