Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 33

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 33
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 Common Stock subject to Fold RSUs and (y) shares of Fold Common Stock held by Fold as treasury stock) will be cancelled and converted into the right to receive a number of shares of Emerald Class A Common Stock (rounded down to the nearest whole share) equal to the quotient obtained by (a) the Aggregate Merger Consideration, dividedby (b) the number of shares of Fold Fully Diluted Capital Stock (the “Exchange Ratio”), and (ii) each outstanding award of Fold RSUs shall automatically be converted into an award of restricted stock units covering a number of shares of New Fold Common Stock determined by multiplying (a) the number of shares of Fold Common Stock subject to the corresponding Fold RSU Award immediately prior to the Effective Time by (b) the Exchange Ratio (rounded down to the nearest whole share). Following the consummation of the Business Combination and upon effectiveness of the Proposed Charter, all outstanding shares of Emerald Class A Common Stock will be reclassified as shares of New Fold Common Stock on a one -to-onebasis. In addition, (i) the December 2024 Initial Investor Note will be converted into New Fold Initial Investor Note, convertible into shares of New Fold Common Stock, and (ii) the December 2024 Investor Warrants will be converted into New Fold Investor Warrants, exercisable for shares of New Fold Common Stock. Q.Why is Emerald proposing the Business Combination Proposal? A.Emerald was organized for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Emerald is not limited to any particular industry or sector. Emerald received net proceeds of $248,693,420 from its IPO (including from the partial exercise by the underwriters of their over -allotmentoption) and sale of the Private Placement Units, which was placed into the Trust Account immediately following the IPO. As a result of the redemption of shares of Emerald Class A Common Stock in connection with the special meetings of Emerald stockholders held on September19, 2023, January19, 2024 and December17, 2024 to extend Emerald’s deadline to complete an initial business combination, there was approximately $51.3million in the Trust Account as of December31, 2024. In accordance with the Existing Charter, the funds held in the Trust Account will be released upon the consummation of the Business Combination. See the question “ What happens to the funds held in the Trust Account upon consummation