Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 509

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 509
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 in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act which invest only in direct U.S. government treasury obligations. The Company’s investments held in the Trust Account are classified as trading securities. Trading securities are presented on the balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of these securities is included in interest income earned on investments held in trust account in the accompanying statements of operations. The estimated fair values of investments held in the Trust Account are determined using available market information.

Net Income Per Common Stock

The Company has two classes of shares, which are referred to as Class A common stock and Class B common stock. Earnings and losses are shared pro rata between the two classes of shares. The Company has not considered the effect of the warrants sold in the Public Offering and the Private Placement to purchase an aggregate of shares of its Class A common stock in the calculation of diluted net income per share, since their exercise is contingent upon future events. As a result, diluted net income per share of common stock is the same as basic net income per share of common stock. The redemption feature for the common shares equals fair value, and therefore does not create a different class of shares or require an adjustment to the earnings per share calculation. The redemption at fair value does not represent an economic benefit to the holders that is different from what is received by other stockholders, because the shares could be sold on the open market. Accretion associated with the redeemable shares of Class A common stock is excluded from earnings per share as the redemption value approximates the fair value.

|                                                         |     | For the Year Ended December 31, 
 2023                            |            |     |         |           |     | 2022    |            |     |         |           |
|:--------------------------------------------------------|:----|:--------------------------------|-----------:|:----|:--------|----------:|:----|:--------|-----------:|:----|:--------|----------:|
|                                                         |     | Class A                         |            |     | Class B |           |     | Class A |            |     | Class B |           |
| Basic and diluted net income per share of common stock: |     |                                 |            |     |         |           |     |         |            |     |         |           |
| Numerator:                                              |     |                                 |            |     |         |           |     |         |