Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 32

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 32
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 the Effective Time by (b) the Exchange Ratio (rounded down to the nearest whole share). Following the consummation of the Business Combination and upon effectiveness of the Proposed Charter, all outstanding shares of Emerald Class A Common Stock will be reclassified as shares of New Fold Common Stock on a one -to -onebasis. In addition, (i) the December 2024 Initial Investor Note will be converted into New Fold Initial Investor Note, convertible into shares of New Fold Common Stock, and (ii) the December 2024 Investor Warrants will be converted into New Fold Investor Warrants, exercisable for shares of New Fold Common Stock. Q.Why is Emerald proposing the Business Combination Proposal? A.Emerald was organized for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Emerald is not limited to any particular industry or sector. Emerald received net proceeds of $248,693,420 from its IPO (including from the partial exercise by the underwriters of their over -allotmentoption) and sale of the Private Placement Units, which was placed into the Trust Account immediately following the IPO. As a result of the redemption of shares of Emerald Class A Common Stock in connection with the special meetings of Emerald stockholders held on September19, 2023, January19, 2024 and December17, 2024 to extend Emerald’s deadline to complete an initial business combination, there was approximately $51.3million in the Trust Account as of December31, 2024. In accordance with the Existing Charter, the funds held in the Trust Account will be released upon the consummation of the Business Combination. See the question “ What happens to the funds held in the Trust Account upon consummation of the Business Combination?” below. As of September 30, 2024, there were 14,349,106shares of Emerald Class A Common Stock issued and outstanding. In addition, as of September 30, 2024, there were 12,922,712 Emerald Warrants issued and outstanding, consisting of 12,434,671 Public Warrants and 488,041 Private Placement Warrants. Each whole Emerald Warrant entitles the holder thereof to purchase one share of Emerald Class A Common Stock at a price of $11.50 per share. The Emerald Warrants will become exercisable 30 days after the completion of a business combination, and expire at 5:00 p.m., New