Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 108

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1
Chunk 108
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 cannot assure you that our securities will continue
to be listed on Nasdaq in the future. In order to continue listing our securities on Nasdaq, we must maintain certain financial, distribution
and stock price levels.

If Nasdaq delists our securities from trading on
its exchange and we are not able to list our securities on another national securities exchange, we expect our securities could be quoted
on an over-the-counter market. If this were to occur, we could face significant material adverse consequences, including:

●a limited availability of market quotations for our Common
Stock;

●a reduced level of trading activity in the secondary trading
market for our Common Stock;

●a limited amount of news and analyst coverage for us;

●a decreased ability to issue additional securities or obtain
additional financing in the future; and

●our securities would not be “covered securities”
under the National Securities Markets Improvement Act of 1996, which is a federal statute that prevents or pre-empts the states
from regulating the sale of certain securities, including securities listed on the Nasdaq, in which case our securities would be subject
to regulation in each state where we offer and sell securities.

Future resales of our securities may cause the market price of
such securities to drop significantly, even if our business is doing well.

The sale of our securities in the public market,
including by entities to which we have issued shares in connection with transactions, or the perception that such sales could occur, could
harm the prevailing market price of our securities. These sales, or the possibility that these sales may occur, also might make it more
difficult for us to sell equity securities in the future at a time and at a price that we deem appropriate.

62

We may issue additional shares or other equity securities without
your approval, which would dilute your ownership interest and may depress the market price of our securities.

Pursuant to the Incentive Award Plan, we may initially issue an aggregate
of up to the number of shares equal to 10% of our Common Stock issued and outstanding at the Closing on a fully-diluted basis, which amount
will automatically increase annually and may further be subject to increase from time to time. We may also issue additional securities
of equal or senior rank in the future in connection with, among other things, future acquisitions or repayment of outstanding indebtedness,
without shareholder approval, in a number of circumstances.

The issuance of additional shares or other equity
securities of equal or senior rank would have the