Company: FLDDW
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001213900-25-068264
Chunk: 124

Company: Fold Holdings, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 124
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 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 Because the Business Combination and related financing transactions were included in the condensed balance sheet as of March 31, 2025, no unaudited pro forma condensed combined balance sheet adjustments are included within this registration statement. Note 3. Unaudited Pro Forma Condensed Combined Statements of Operations The pro forma adjustments included in the unaudited pro forma condensed combined statements of operations for the year ended December 31, 2024, are as follows: a)Represents the elimination of interest income on Emerald’s Trust Account for the year ended December 31, 2024. b)Represents the recognition of the share -basedcompensation expense associated with the Restricted Stock Units which will convert to Fold Common Stock immediately prior to the closing of the transaction and will continue to vest during the year ended December 31, 2024. c)Represents the elimination of non -redemptionagreement expense related to Emerald’s non -redemptionagreements with unaffiliated third parties in exchange for each such party agreeing not to redeem public shares for the year ended December 31, 2024. d)Represents the elimination of $88.4 million of historical changes in fair value associated with Fold’s SAFEs for the year ended December 31, 2024. The elimination of this fair value adjustment to the SAFEs is a result of the SAFEs being converted to Fold common shares upon the close of the Business Combination. Refer to Note 2(b) for more information. e)Represents the elimination of interest expense related to the amortization of Emerald’s discount on its promissory note with Polar for the year ended December 31, 2024. See Note 2(e) for more detail. f)Represents the elimination of $0.6 million of historical income tax expense for the year ended December 31, 2024. The elimination of these tax provisions is due to the removal of investment trust