Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 506

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 506
---
 shares for cash at a redemption price of approximately $ 10.4762per share, for an aggregate redemption amount of approximately $ 96,791,644. Following the redemptions, 15,630,150shares of redeemable Class A common stock remained outstanding. On January 19, 2024, the Company held a special meeting of its stockholders (the “January Meeting”) at which the Company’s stockholders approved (A) an amendment (the “January Charter Amendment”) to the Company’s Second Amended and Restated Certificate of Incorporation to extend the date by which the Company has to consummate its initial business combination from January 19, 2024 to December 20, 2024 (or such earlier date as determined by the Company’s Board of Directors); and (B) an amendment (the “January Trust Amendment”) to the Trust Agreement to allow the trustee to liquidate the Trust Account established in connection with the IPO at such time as may be determined by the Company as set forth in the January Charter Amendment. In connection with the January 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 $ 10.6224per share, for an aggregate redemption amount of approximately $ 115,489,643. Following the redemptions, 4,757,884shares of redeemable Class A common stock remain outstanding. Liquidity and Capital Resources As of December 31, 2023, the Company had $ 29,844in cash and a working capital deficit of $ 3,087,967. Prior to the completion of the Company’s IPO, the Company’s liquidity needs had been satisfied through a capital contribution from the Sponsor of $ 25,000and a loan to the Company of up to $ 300,000by the Company’s Sponsor under an unsecured promissory note. The outstanding balance under the promissory note of $ 105,260was repaid on December 27, 2021, and the promissory note was terminated. In order to finance transaction costs in connection with an intended 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