Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 104

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1
Chunk 104
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 indebtedness. In addition, we may incur additional indebtedness, the terms of which
may further restrict or prevent us from paying dividends on our common stock. As a result, you may have to sell some or all of your common
stock after price appreciation in order to generate cash flow from your investment, which you may not be able to do. Our inability or
decision not to pay dividends, particularly when others in our industry have elected to do so, could also adversely affect the market
price of our common stock.

59

If securities or industry analysts do not publish research or
reports about our business or publish negative reports, the market price of our common stock could decline.

The trading market for our common stock will be
influenced by the research and reports that industry or securities analysts publish about us or our business. We may be unable or slow
to attract research coverage and if one or more analysts cease coverage of us, the price and trading volume of our securities would likely
be negatively impacted. If any of the analysts that may cover us change their recommendation regarding our securities adversely, or provide
more favorable relative recommendations about our competitors, the price of our securities would likely decline. If any analyst that may
cover us ceases covering us or fails to regularly publish reports on us, we could lose visibility in the financial markets, which could
cause the price or trading volume of our securities to decline. Moreover, if one or more of the analysts who cover us downgrades our common
stock or if our reporting results do not meet their expectations, the market price of our common stock could decline.

Our issuance of additional shares of common stock or convertible
securities could make it difficult for another company to acquire us, may dilute your ownership of us and could adversely affect our stock
price.

We may issue additional shares of our common stock
or securities convertible into common stock pursuant to a variety of transactions, including through our Incentive Award Plan and Employee
Stock Purchase Plan (“ESPP”), and through acquisitions. We may also execute or have executed agreements which allow certain
third parties the right to purchase additional shares of our common stock or securities convertible into common stock. The issuance by
us of additional shares of our common stock or securities convertible into our common stock would dilute your ownership of us and the
sale of a significant amount of such shares in the public market could adversely affect prevailing market prices of our common stock.

In the future, we expect to obtain financing or
to further increase our capital resources by