Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 249

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 249
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 listed and unlisted securities, private placements and other transactions for estate, corporate and other purposes. Stockholders are urged to review the section entitled “ Risk Factors — Risks Related to Fold’s Business and Industry” in this proxy statement/prospectus for a description of the risks relating to Fold’s business. Stockholders should also read the section entitled “ Cautionary Note Regarding Forward -looking Statements” in this proxy statement/prospectus for additional information regarding the risks inherent in forward -lookinginformation. Certain Unaudited Fold Prospective Financial Information Fold does not as a matter of general practice publicly disclose projections as to future revenues, performance, financial condition or other results, given, among other reasons, the uncertainty of realizing the underlying assumptions, nor does it undertake to do so in the future. However, Fold prepared and provided to Emerald certain internal, prospective unaudited financial information (the “original Fold projections”) in connection with Emerald’s evaluation of the Business Combination. Fold’s management prepared such financial information based on their judgment and assumptions regarding the future financial performance of Fold and estimates regarding future operational expenditure. In connection with Fold management’s preparation of the original Fold projections, Fold provided drafts of the original Fold projections to Emerald for review and Emerald’s management suggested certain modifications in the financial model underlying the forecasts. This process ultimately led to the development of the original Fold projections that were provided to the Emerald Board and Northland. The original Fold projections are included in this proxy statement/prospectus for consideration by Emerald stockholders in connection with the evaluation of the Business Combination because such information was considered, among other things, by Northland in connection with rendering its fairness opinion to the Emerald Board and by the Emerald Board in connection with its decision to approve the Business Combination and recommend it for adoption by Emerald’s stockholders. Original Fold Projections The following table presents revenue forecasts included in the original Fold projections for the year ended December 31, 2024, the year ended December 31, 2025 and the 12 -monthsending June 30, 2025, which were prepared as described above and considered, among other things, by Northland in connection with rendering its fairness opinion to the Emerald Board and by the Emerald Board in connection with its decision to approve the Business Combination and recommend it for adoption by Emerald’s stockholders.

| ($ in millions) |     | 2024E |      |     | 2025E |      |     | Twelve Months 
 Ending        
 June 30,      
 2025E         |      |