Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 427

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 427
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550,000 in cash in connection with the Closing. On October25, 2024, Emerald issued a promissory note (the “October Note”) to Frontier SPV, LLC (“Frontier”), an affiliate of the Sponsor. Pursuant to the October Note, Frontier agreed to loan Emerald up to an aggregate principal amount of $2,000,000. The October Note is non -interestbearing and all outstanding amounts under the October Note will be due on the date on which Emerald consummates a business combination. If Emerald does not consummate a business combination, Emerald may use a portion of any funds held outside the Trust Account to repay the October Note; however, no proceeds from the Trust Account may be used for such repayment. If such funds are insufficient to repay the October Note, the unpaid amounts would be forgiven. No portion of the amounts outstanding under the October Note may be converted into units or shares. On October25, 2024, Emerald borrowed $65,000 under the October Note. On October31, 2024, Emerald issued a promissory note (the “Tax Note”) to Frontier. Pursuant to the Tax Note, Frontier agreed to loan Emerald an aggregate principal amount of $973,116.44, which was used to satisfy Emerald’s excise tax liability. The Tax Note is non -interestbearing and all outstanding amounts under the Tax Note will be due on the date on which Emerald consummates a business combination. If Emerald does not consummate a business combination, Emerald may use a portion of any funds held outside the Trust Account to repay the Tax Note; however, no proceeds from the Trust Account may be used for such repayment. If such funds are insufficient to repay the Tax Note, the unpaid amounts would be forgiven. No portion of the amounts outstanding under the Tax Note may be converted into units or shares. On October31, 2024, Emerald borrowed the full amount under the Tax Note. Senior Secured Convertible Note & Investor Warrant Financing Securities New Fold Senior Secured Convertible Note Upon the closing of the Business Combination, New Fold (i) will issue to an institutional investor (the “Investor”) a new senior secured convertible note in an aggregate principal amount of $20,000,000 in exchange for the December 2024 Initial Investor Note and, (ii) following the closing of the Business Combination, subject to the mutual discretion of Fold and the Investor, may issue to the Investor an additional Senior Secured Convertible Note in an aggregate principal amount of up to