Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 388

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 388
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 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 246 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 requirements of Emerald. Pursuant to the terms and subject to the conditions of the Subscription Agreement, Polar agreed to contribute up to $550,000 to ESG Funding (the “Polar Contribution”), which amount was contributed in full as of April 2024. The Polar Contribution shall be repaid upon Emerald’s closing of an initial business combination. The Polar Contribution is non -interestbearing and shall be repaid to, and at the election of, Polar (i) in shares of common