Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 232

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 232
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, the disclosure schedules to the Merger Agreement, the Sponsor Share Restriction Agreement and the Support Agreement, and engaged in negotiations of such documents and agreements. Specifically, Stevens and Lee circulated an initial draft of the Sponsor Share Restriction Agreement on July10, 2024 and an initial draft of the Support Agreement on July11, 2024. Stevens and Lee and Latham and other representatives and advisors of Emerald and Fold held numerous conference calls between July7, 2024 and July24, 2024 regarding certain terms and conditions of the Merger Agreement and the ancillary documents, including, among other things, (a) the overall suite of representations, warranties and covenants to be provided by each party thereunder, (b) the ability of Fold to take certain actions during the interim period without the prior approval of Emerald, (c) the timing of Fold’s obligation to deliver to Emerald audited financial statements and the inclusion of Emerald’s termination right in the event the required timeline was not met; (d) the inclusion of an escalator to Fold’s valuation that would increase the consideration payable to Fold in the event that Bitcoin’s trading price exceeded certain defined thresholds prior to the Closing; and (e) other covenants and conditions included in the Merger Agreement and the ancillary documents to effect the transactions. On July 15, 2024, Emerald conducted a call with its board of directors to review Northland’s qualifications as a fairness opinion provider and to approve Northland’s engagement to provide a fairness opinion to Emerald in connection with the transaction. All Emerald directors were present on the call, as were Mr. Young, Ms. Abrams, and Mr. Jagota. 135 On July 16, 2024, representatives of Emerald and Northland conducted a due diligence session with Mr. Reeves and other representatives of Fold in connection with Northland’s review of the transaction. From July 18 to July 22, 2024, representatives of Emerald, Fold and CCM conducted sessions to discuss, review and revise an investor presentation with respect to the transaction, and finalize a communications plan with respect to the transaction announcement. On July 22, 2024, the Emerald Board met to discuss certain aspects of Fold’s business, including, among other matters, the results of the diligence process. Present at the meeting were all directors, Mr. Young, Ms. Abrams and Mr. Jagota. On July23, 2024, after relevant comments and updated drafts of the Merger Agreement and other