Company: FLDDW
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001213900-25-026537
Chunk: 260

Company: Fold Holdings, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 260
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secured and were due at the earlier of June 30, 2022 or the closing of the Public Offering. The outstanding balance under the promissory note of $ 105,260was repaid on December 27, 2021, and the promissory note was terminated and is no longer available to be drawn upon. As of December 31, 2024 and 2023, there were no amounts outstanding under the promissory note. On January 13, 2023, the Sponsor agreed to loan the Company up to $ 1,500,000(the “Promissory Note”). The note is non-interest bearing and all outstanding amounts under the Promissory Note will be due on the date on which the Company consummates a Business Combination. No portion of the amounts outstanding under the Promissory Note may be converted into units at a price of $ 10.00per unit, which would have been permissible as described in the prospectus filed in connection with the Public Offering. On October 16, 2023, the Company and the Lender amended the Promissory Note to increase the aggregate principal amount of the Promissory Note from $ 1,500,000to $ 3,000,000. All other material terms of the Promissory Note remain in full force and effect. As of December 31, 2024 and 2023, there was $ 3,000,000and $ 2,025,000outstanding under the Promissory Note, respectively. As a result of the Business Combination the Promissory Note was repaid. F-43 FOLD HOLDINGS, INC. (F/K/A FTAC EMERALD ACQUISITION CORP.) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2024 On October 25, 2024, the Company issued the October Note to Frontier. Pursuant to the October Note, Frontier agreed to loan the Company up to an aggregate principal amount of $ 2,000,000. The October Note is non-interest bearing and all outstanding amounts under the October Note will be due on the date on which the Company consummates a Business Combination. No portion of the amounts outstanding under the October Note may be converted into units or shares. As of December 31, 2024 and 2023, there was $ 1,218,651and $ 0outstanding under the October Note, respectively. As a result of the