Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 123

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 123
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 a long-term strategic investment and not as a trading asset.

Recent developments

On July 24, 2024, the Company entered into a definitive
agreement (the “Merger Agreement”) with FTAC Emerald Acquisition Corp. (“FTAC Emerald”), a publicly-traded special
purpose acquisition company, providing for a proposed business combination (the “Merger”). The business combination was approved
by FTAC’s shareholders on February 13, 2025. The combined company now operates under the name Fold Holdings, Inc., and its common
stock and warrants trade on the Nasdaq under the ticker symbols “FLD” and “FLDDW,” respectively.

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In July 2024, we released a new rewards program
for ACH bill payments, a feature that we believe currently has limited competition in the financial payments industry. This program provides
eligible users the ability to earn up to 1.5% back on their mortgage, rent, or other bill payments. The amount of ACH payments eligible
for rewards are tied directly to spending volumes elsewhere in the Fold ecosystem - for example, by spending $1,000 to purchase bitcoin
on Fold, a user can earn rewards on up to $1,000 in ACH payments. This feature had been sought after by our existing user base for some
time, and we expect it to drive increased volumes across all forms of eligible spend on our platform.

In September 2024, we added support for users
from the state of Texas for our bitcoin exchange product, and we added the ability for users to deposit bitcoin into Fold to use as a
funding method.

In November 2024, we launched joint accounts,
a feature that provides the ability for users to add authorized users to their existing accounts (i.e. add a family member to your Fold
Debit Card).

From January 1, 2024, to December 31, 2024 the
Company entered into SAFEs with various investors with aggregate proceeds of $72.1 million.

On December 24, 2024, Fold entered into a Securities
Purchase Agreement (the “December 2024 Securities Purchase Agreement”) with an institutional investor (the “Investor”),
pursuant to which (i) Fold issued to the Investor a Senior Secured Convertible Note in an aggregate principal amount of $20,000,000 (the
“December 2024 Initial Investor Note”), and (ii) following the closing of the