Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 233

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 233
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 LLP, counsel to Fold (“Latham”), and Stevens & Lee P.C., counsel to Emerald (“Stevens and Lee”), and Mr. Jagota held a teleconference to discuss transaction documentation and structure. Between June 28, 2024 and announcement of the transaction, the parties engaged in numerous diligence calls and virtual conferences. Such meetings involved various topics, including (i) financial diligence and review of Fold’s financial information with Mr.Reeves, Wolfe Repass, Fold’s Chief Financial Officer, and representatives of CCM, (ii) risk management due diligence with Mr. Reeves, Nicolleta Goncalves, Fold’s Vice President of Risk and Compliance, Thomas Dickman, Fold’s Chief Technology Officer, and CCM, (iii) product pipeline due diligence with Mr. Reeves, Ammaarah Khan, Fold’s Senior Product Manager, and CCM, (iv) diligence with certain key service providers of Fold, including services with respect to Bitcoin custody, money transmission, credit card program management, KYC, onboarding, compliance and fraud prevention, (v) diligence with Visa, which is the applicable payment network for Fold’s debit card program, and (vi) legal diligence with Stevens and Lee, Latham, CCM and applicable representatives of Fold. Representatives of Emerald were present at each diligence session. On July 7, 2024, Stevens and Lee circulated the initial draft of the Merger Agreement to Latham. Between July7, 2024 and July24, 2024, Stevens and Lee and Latham exchanged revised drafts of the Merger Agreement, 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