Company: FLDDW
Filing Date: 2025-07-11
Form Type: S-1
Source: 0001213900-25-062935
Chunk: 303

Company: Fold Holdings, Inc.
Filing Date: 2025-07-11
Form: S-1
Chunk 303
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 person or entity that agrees in writing to be bound by the transfer restrictions set forth above. Promissory Note — Related Party In order to finance transaction costs in connection with its 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 the Company. Emerald ESG Sponsor, LLC agreed to loan the Company up to $ 300,000to be used for a portion of the expenses of the Public Offering. These loans were non -interestbearing, unsecured and were due at the earlier of June 30, 2022 or the closing of the Public Offering. The outstanding balance under the promissory note of $ 105,260was repaid on December 27, 2021, and the promissory note was terminated and is no longer available to be drawn upon. As of December 31, 2024 and 2023, there were no amounts outstanding under the promissory note. On January 13, 2023, the Sponsor agreed to loan the Company up to $ 1,500,000(the “Promissory Note”). The note is non -interestbearing and all outstanding amounts under the Promissory Note will be due on the date on which the Company consummates a Business Combination. No portion of the amounts outstanding under the Promissory Note may be converted into units at a price of $ 10.00per unit, which would have been permissible as described in the prospectus filed in connection with the Public Offering. On October 16, 2023, the Company and the Lender amended the Promissory Note to increase the aggregate principal amount of the Promissory Note from $ 1,500,000to $ 3,000,000. All other material terms of the Promissory Note remain in full force and effect. As of December 31, 2024 and 2023, there was $ 3,000,000and $ 2,025,000outstanding under the Promissory Note, respectively. As a result of the Business Combination the Promissory Note was repaid. F-46 FOLD HOLDINGS, INC.
(F/K/A FTAC EMERALD ACQUISITION CORP.)
NOTES TO CONS