Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 435

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 435
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 shares for cash at a redemption price of approximately
$10.6224 per share, for an aggregate redemption amount of approximately $115,489,643. On December 17, 2024, we held the Third Extension
Meeting at which the Company’s stockholders approved (A) the Third Charter Amendment to the Company’s Second Amended and Restated
Certificate of Incorporation to extend the date by which the Company has to consummate its initial business combination from December
20, 2024 to December 20, 2025 (or such earlier date as determined by the Company’s Board of Directors); and (B) an amendment to
the Trust Agreement to allow the trustee to liquidate the Trust Account at such time as may be determined by the Company as set forth
in the Third Charter Amendment. In connection with the Third Extension Meeting, the holders of 112,068 shares of redeemable Class A common
stock exercised their right to redeem their shares for cash at a redemption price of approximately $11.01878 per share, for an aggregate
redemption amount of approximately $1.2 million. Following the redemptions, 4,645,816 shares of redeemable Class A common stock remain
outstanding.

On January 3, 2024, we entered into a subscription
agreement with Polar Multi-Strategy Master Fund (“Polar”), Emerald ESG Sponsor LLC (“ESG Sponsor”), Emerald ESG
Advisors, LLC (“ESG Advisors”) and Emerald ESG Funding, LLC (“ESG Funding” and collectively with ESG Sponsor and
ESG Advisors, the “Sponsors”), to cover working capital requirements of the Company and costs related to a possible extension
of the Company’s trust liquidation date (the “Subscription Agreement”). Pursuant to the terms and subject to the conditions
of the Subscription Agreement, Polar agreed to contribute up to $550,000 to ESG Funding (the “Capital Contribution”). An initial
capital call of $350,000 took place within five (5) business days of the signing of the Subscription Agreement, and a second capital call
of $200,000 took place on April 2, 2024. As a result of the Business Combination, Polar received $550,000 and 550,000 shares of common
stock of the Company in full payment of the Company’s obligations under the Subscription Agreement.

We
completed our Business Combination with Fold on February 14, 2025, and have raised sufficient capital for