Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 539

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1C
Chunk 539
---
ise tax liability. The Tax Note is non-interest bearing and all outstanding
amounts under the Tax Note will be due on the date on which the Company consummates a Business Combination. No portion of the amounts
outstanding under the Tax Note may be converted into units or shares. As of December 31, 2024 and 2023, there was $973,116 and $0 outstanding
under the Tax Note, respectively. As a result of the Business Combination the Tax Note was repaid.

As of December 31, 2024, we had cash, investments
and marketable securities held in the Trust Account of $51,289,643. On September 19, 2023, we held the Meeting at which the Company’s
stockholders approved (A) the Charter Amendment to the Company’s Second Amended and Restated Certificate of Incorporation to extend
the date by which the Company has to consummate its initial business combination from September 20, 2023 to January 19, 2024 (or such
earlier date as determined by the Company’s Board of Directors); and (B) the Trust Amendment to the Trust Agreement to allow the
trustee to liquidate the Trust Account at such time as may be determined by the Company as set forth in the Charter Amendment. In connection
with the Meeting, the holders of 9,239,192 shares of redeemable Class A common stock exercised their right to redeem their shares for
cash at a redemption price of approximately $10.4762 per share, for an aggregate redemption amount of approximately $96,791,644. On January
19, 2024, we held the January Meeting at which the Company’s stockholders approved (A) the January Charter Amendment to the Company’s
Second Amended and Restated Certificate of Incorporation to extend the date by which the Company has to consummate its initial business
combination from January 19, 2024 to December 20, 2024 (or such earlier date as determined by the Company’s Board of Directors);
and (B) the January Trust Amendment to the Trust Agreement to allow the trustee to liquidate the Trust Account 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 10,872,266
shares of redeemable Class A common stock exercised their right to redeem their shares for cash at a redemption price of approximately
$10.6224