Company: FLDDW
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001213900-25-026537
Chunk: 111

Company: Fold Holdings, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 111
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| (1) | Reflects aggregate redemptions of 3.3 million Class A common shares for $36.6 million that occurred on February 14, 2025.                        |
| (2) | Includes approximately 3.8 million shares assigned to unaffiliated third parties in exchange for executed non-redemption and similar agreements. |
| (3) | Includes the exercise of 0.5 million Series B Warrant Shares for a nominal exercise price of $0.001 per share.                                   |

62 The unaudited pro forma adjustments are based on information currently available, and assumptions and estimates underlying the unaudited pro forma adjustments are described in the accompanying notes. Actual results may differ materially from the assumptions used to present the accompanying unaudited pro forma condensed combined financial information. The unaudited pro forma condensed combined financial statements have been prepared for illustrative purposes only and are not necessarily indicative of what the actual results of operations and financial position would have been had the Business Combination and related transactions taken place on the dates indicated, nor do they purport to project the future consolidated results of operations or financial position of the combined company. They should be read in conjunction with the audited financial statements and notes thereto of each of Emerald and Fold as of and for the year ended December 31, 2024, respectively and included elsewhere in this filing. There were no significant intercompany balances or transactions between Emerald and Fold as of the date and for the period of these unaudited pro forma condensed combined financial statements. The pro forma basic and diluted earnings per share amounts presented in the unaudited pro forma condensed combined statements of operations are based upon the number of Emerald’s common shares outstanding, assuming the Business Combination and related transactions occurred on January 1, 2024. Note 2. Unaudited Pro Forma Condensed Combined Balance Sheet Adjustments The pro forma adjustments included in the unaudited pro forma condensed combined balance sheet as of December 31, 2024 are as follows: a) Represents the reclassification of 4.6 million of Class A common shares subject to possible redemption to permanent equity, less 3.3 million shares redeemed subsequent on February 14, 2025 for an aggregate redemption amount of $36.6 million. b) Reflects the recapitalization of Fold. Immediately prior to the recapitalization, as triggered by the Business Combination, Fold historical preferred shares and Simple Agreements for Future Equity (“