Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 212

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 212
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 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 unaudited and audited financial statements and notes thereto of each of Emerald and Fold as of and for the nine months ended September 30, 2024 and the year ended December 31, 2023, respectively and included elsewhere in this proxy statement/prospectus. There were no significant intercompany balances or transactions between Emerald and Fold as of the date and for the periods 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, 2023. 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 September 30, 2024 are as follows: a)Represents the reclassification of 4.8 million of Class A common shares subject to possible redemption to permanent equity, less 0.1million shares redeemed subsequent to September30, 2024, for a redemption amount of $1.2million, and assuming no further redemptions. 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 (“SAFEs”) convert to Fold common shares, which, collectively with the Fold historical common shares, are exchanged for New Fold Common Shares and additional paid -in-capital.

121 c)Reflects the reclassification of $52.0 million of cash and cash equivalents held in Emerald’s Trust Account that becomes available for transaction expenses, redemption of public shares, and the operating activities following the Business Combination, less 0.1million shares redeemed subsequent to September30, 2024, for a redemption amount of $1.2million, and assuming no further redemptions. d)Reflects the repayment of Emerald’s balances due to related parties at the Business Combination date. e)Reflects the repayment of Emerald’s promissory note of $0.6 million, net of an original issue discount of $