Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 391

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 391
---
 be required (the “Working Capital Loans”). If we complete the initial Business Combination, we expect to repay such loaned amounts out of the proceeds of the Trust Account released to us. In the event that the initial Business Combination does not close, we 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. The Sponsor originally agreed to loan us up to an aggregate principal amount of $1,500,000 under the Promissory Note (as defined below). On October 16, 2023, we and the Sponsor amended the Promissory Note to increase the aggregate principal amount of the Promissory Note from $1,500,000 to $3,000,000. At September 30, 2024 and December 31, 2023, $3,000,000 and $2,025,000 of such Working Capital Loans were outstanding, respectively. As of September 30, 2024, we had cash, investments and marketable securities held in the Trust Account of $51,996,271. In connection with the First Extension Meeting, the holders of 9,239,192shares 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, in connection with the Second Extension 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 $10.6224 per share, for an aggregate redemption amount of approximately $115,489,643. On December17, 2024, in connection with the Third Extension Meeting, the holders of 112,068shares of redeemable Class A Common Stock exercised their 245 right to redeem their shares for cash at a redemption price of approximately $11.01878 per share, for an aggregate redemption amount of approximately $1.2million. Following the redemptions, 4,645,816shares of redeemable Class A Common Stock remain outstanding. On January 3, 2024, the Company, the Sponsor and Emerald ESG Funding, LLC (“ESG Funding”) entered into a subscription agreement (the “Subscription Agreement”) with Polar Multi -StrategyMaster Fund (“Polar”) to cover working capital