Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 430

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 430
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 of New Fold Common Stock at an alternate conversion price] equal to the lowest of (x) the applicable Conversion Price as in effect on the applicable conversion date of the alternate conversion and (y) 95% of the lowest VWAP of the New Fold Common Stock during the seven (7) consecutive trading day period immediately preceding the delivery or deemed delivery of the applicable conversion notice. Upon a change of control (as defined in the Investor Notes), a noteholder may require New Fold to redeem all, or any portion, of the Investor Notes at a price equal to the Conversion Amount of the Investor Notes. A noteholder will not have the right to convert any portion of a Note, to the extent that, after giving effect to such conversion, the noteholder (together with certain of its affiliates and other related parties) would beneficially own in excess of 9.99% of the shares of New Fold Common Stock outstanding immediately after giving effect to such conversion. The Investor Notes include various events of default, including, among others: non -paymentof principal, interest or fees, violation of covenants, inaccuracy of representations or warranties, cross -defaultto other material indebtedness, bankruptcy and insolvency events, invalidity or impairment of security interests or invalidity of loan documents, unstayed judgments and change of control. The Investor Notes contain certain affirmative and negative covenants, including the incurrence of debt, the granting of liens, engaging in fundamental changes, the making of investments, entering into transactions with affiliates, the payment of dividends and other restricted payments, the prepayment of other indebtedness and the sale of assets. The Investor Notes will also require New Fold to maintain a minimum liquidity threshold, tested as of the end of each fiscal quarter through maturity. Investor Warrants Upon closing of the Business Combination, New Fold will issue to the Investor (i) warrants exercisable for 869,565shares of New Fold Common Stock with an exercise price of $12.50 per share (the “New Fold Series A Warrants”), in exchange for the December 2024 Series A Warrants, and (ii) warrants exercisable for 500,000shares of New Fold Common Stock with an effective exercise price of $0.001 per share (the “New Fold Series B Warrants”) in exchange for the December 2024 Series B Warrants, and (iii) warrants exercisable for 869,565shares of New Fold Common Stock with an exercise price of $11.50 per share (