Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 382

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 382
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 and upon the completion of the Business Combination, Sponsor and its affiliates will hold a total of 6,293,722shares of New Fold Common Stock. At Closing, the Working Capital Loans (including the Promissory Note, the October Note and the Tax Note) will be repaid, without interest. The retention of shares by Sponsor and its affiliates and the reimbursements payable to Sponsor under the Working Capital Loans at Closing will not result in a material dilution of the equity interests of non -redeemingEmerald Stockholders. Transfer Restrictions Sponsor Share Restriction Agreement Pursuant to the Sponsor Share Restriction Agreement, at the Closing, (i) the Private Placement Warrants, all of which are held by the Sponsor, will be forfeited and cancelled, (ii) approximately 3.3 million of the Sponsors’ founder shares allocated to certain third party investors not affiliated with the Sponsor or Emerald will not be subject to transfer restrictions, and (iii) approximately 5.3 million of the Sponsor’s founder shares shall be subject to time -basedtransfer restrictions subject to early release as follows: •one -thirdof the subject founder shares shall remain subject to transfer restrictions until the earlier of (a) six months following the Closing or (b) the first date that the stock price exceeds $12.00 for 20 trading days of any consecutive 30 trading day period ending after the date that is 90 days after the Closing;

241 •one -thirdof the subject founder shares shall remain subject to transfer restrictions until the earlier of (a) (x) in the event that Emerald and Fold raise $50 million or more as of the Closing, one year following the Closing, and (y) in the event that Emerald and Fold raise less than $50 million as of the Closing, two years following the Closing, or (b) the first date that the stock price exceeds $15.00 for 20 trading days of any consecutive 30 trading day period ending after the date that is 90 days after the Closing; and •one -thirdof the subject founder shares shall remain subject to transfer restrictions until the earlier of (a) ten years following the Closing or (b) the first date that the stock price exceeds $17.00 for 20 trading days of any consecutive 30 trading day period ending after the date that is 90 days after the Closing. In the event that Emerald and Fold raise less than $50 million from the date of the Merger Agreement through the second anniversary of the Closing, the Sponsor