Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 209

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 209
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 The aggregate consideration to be paid in the Transactions will consist of shares of Emerald Class A Common Stock based on Fold’s pre -moneyequity value of $365 million. In the event the 60 -volumeweighted average price of Bitcoin as of the day immediately prior to the closing of the Business Combination (the “Closing”) is greater than $90,000, the aggregate consideration to be paid in the Transactions will be increased by 20% of the increase in value of the amount of Bitcoin in Fold’s treasury as of July 24, 2024, up to a maximum of $54.75 million. There are no other adjustments to the consideration amount contemplated in the Merger Agreement. Based on Bitcoin pricing as of September30, 2024, we have not included any incremental consideration, however, changes in Bitcoin prices could result in meaningful changes to the consideration paid as outlined above. Description of the December 2024 Initial Investor Financing On December24, 2024, Fold entered into the December 2024 Securities Purchase Agreement with ATW Growth Opportunities SPV, LLC (the “Investor”) pursuant to which the Investor purchased an Initial Note with an aggregate principal amount of $20.0million which is convertible to shares of Common Stock of Fold prior to the Business Combination, or shares of Common Stock of New Fold subsequent to the Business Combination. In conjunction with the December 2024 Securities Purchase Agreement and Initial Investor Note, Fold also issued Series A, Series B, and Series C Warrants to the Investor (collectively with the Initial Note, the “December 2024 Initial Investor Financing”) for 0.9million, 0.5million, and 0.9million shares, respectively. The December 2024 Series A Warrants are available for exercise for a period of eight years from December24, 2024, at an exercise price of $12.50 per share. The December 2024 Series B Warrants are available for exercise after the Business Combination date, for a period of eight years from December24, 2024, at a nominal exercise price of $0.001 per share. The December 2024 Series C Warrants are available for exercise for a period of one year from the Business Combination date, at an exercise price of $11.50 per share. Treatment of Fold Securities Fold Preferred Stock Immediately prior to the effective time of the Business Combination (the “Effective Time”), Fold Preferred Stock will be converted into Fold Common Stock. Fold Common Stock At the Effective