Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 466

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 466
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 Agreement”).

Under the A&R Registration Rights Agreement,
the Company is obligated to file a registration statement with the SEC to register the resale of (a) any shares of Common Stock held by
a Registration Rights Holder as of the Closing and, to the extent acquired after the Closing and deemed to be a “restricted security”
(as defined in Rule 144 promulgated under the Securities Act), any shares of Common Stock acquired following the Closing, and (b) any
other equity security of the Company issued or issuable with respect to any such share of Common Stock by way of a stock dividend or stock
split or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization or otherwise, in
each case held by such Registration Rights Holder.

The Company agreed to, within 20 business days
after the Closing, file with the SEC a shelf registration statement registering the resale of the Common Stock held by the Registration
Rights Holders and use its commercially reasonable efforts to have such registration statement declared effective as soon as practicable
after the filing thereof, but in no event later than 60 days following the filing deadline. In addition, pursuant to the terms of the
A&R Registration Rights Agreement and subject to certain requirements and customary conditions, the Sponsor holders are entitled to
three demand registrations and the Legacy Fold holders are entitled to six demand registrations; provided, however, that the Company is
not obligated to participate in more than four demand registrations in any twelve month period. Further, the Company is not obligated
to participate in an underwritten offering if the aggregate gross proceeds from such offering are expected to be $25 million or less.
The A&R Registration Rights Agreement also provides “piggy-back” registration rights to such stockholders and their permitted
transferees, subject to certain requirements and customary conditions.

93

Sponsor Share Restriction Agreement

Concurrently with the execution of the Merger
Agreement, the Sponsors entered into the Sponsor Share Restriction Agreement (as amended, the “Sponsor Share Restriction Agreement”)
with the Company. Pursuant to the Sponsor Share Restriction Agreement, at the Closing, (i) all Private Placement Warrants were forfeited
and cancelled, and (ii) approximately 4.9 million of the Sponsors’ founder shares (the “subject founder shares”)
became subject to time-based transfer restrictions subject to early release as follows:

    ●
    1,622,547 subject founder shares shall remain