Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 187

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 187
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1.0 stock split of our
common stock. In November 2021, we effected a 0.9955-for-1.0 stock split of our common stock. In January 2022, as a result of the underwriter
exercising its overallotment option in part, our initial holders forfeited 148,192 founder shares. As a result, our initial stockholders
held 8,615,141 founder shares prior to the Closing. The number of founder shares was determined based on the expectation that the founder
shares would represent 25% of the aggregate of our founder shares, the placement shares and our issued and outstanding public shares after
the initial public offering.

Following the Meeting, our sponsors
determined to convert all the outstanding shares of Class B common stock into shares of Class A common stock on a one-for-one basis
(the “Class B Conversion”). Notwithstanding the Class B Conversion, our sponsors did not receive any funds held
in the trust account with respect to any shares of Class A common stock issued to such holders as a result of the Class B Conversion,
and no additional amounts were deposited into the trust account in respect of shares of Class A common stock held by our sponsors.

Our sponsors have agreed after
the Closing not to transfer, assign or sell any of their founder shares except as set forth in the Sponsor Share Restriction Agreement.

Private Placement

Simultaneously with the initial
public offering, our sponsors purchased an aggregate of 976,081 placement units at a price of $10.00 per unit for an aggregate purchase
price of $9,760,810. Each placement unit consisted of one placement share and one-half of one placement warrant to purchase one share
of our Class A common stock exercisable at $11.50. The remaining proceeds from the placement units and the proceeds from the initial public
offering following the partial exercise of the overallotment option in January 2022 were held in the trust account. At the Closing, the
placement units were separated into their component securities and the resulting 488,041 placement warrants were forfeited by our sponsors
in accordance with the terms of the Sponsor Share Restriction Agreement. The 976,081 placement shares became transferable 30 days after
the consummation of the Business Combination in accordance with the terms of the letter agreement.

On January 3, 2024, the
Company and the Sponsors entered into a subscription agreement (the “Subscription Agreement”) with Polar Multi-Strategy