Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 886

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 4
Chunk 886
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 significant portion of Legacy Fold’s properties or assets; and (B) any action, proposal,
transaction or agreement that could reasonably be expected to impede, interfere with, delay, discourage, adversely affect or inhibit the
timely consummation of the Transactions or the fulfillment of a party’s conditions under the Merger Agreement or change in any manner
the voting rights of any class of shares of the Company or Legacy Fold, as applicable (including any amendments to such party’s
governing documents other than in connection with the Transactions).

The Support Agreement generally prohibited the
Voting Parties from transferring their Company voting shares or Legacy Fold voting securities prior to the consummation of the Transactions,
other than to certain permitted transferees who become party to, and bound by, the Support Agreement. The Support Agreement automatically
terminated upon the Closing.

Voting Agreement

Legacy Fold is a party to the Amended and Restated
Voting Agreement, dated March 23, 2021 (the “Voting Agreement”), pursuant to which certain holders of Legacy Fold Capital
Stock, including entities affiliated with Thesis, Inc., which was affiliated with a member of the Legacy Fold Board, Matt Luongo, and
Craft Ventures, which was affiliated with a member of the Legacy Fold Board, Brian Murray, Slow Ventures, M13 and Will Reeves, our Chief
Executive Officer and a member of the Board (each of which held more than 5% of Legacy Fold’s outstanding capital stock within Legacy
Fold’s last fiscal year) agreed to vote their shares of Legacy Fold Capital Stock in favor of certain matters, including with respect
to the board size and the election of directors. The Voting Agreement terminated upon completion of the Business Combination.

SAFE — Related Party

In May 2024, Legacy Fold entered into a SAFE with
Thesis Inc., a principal shareholder and related party, with aggregate proceeds of $1.0 million. Those proceeds were received in
June 2024.

Director Independence

Based on information provided
by each director concerning his or her background, employment and affiliations, each of the directors on the Board, other than Mr. Reeves
and Mr. Hohns, qualify as independent directors, as defined under the Nasdaq Stock Exchange listing rules (the “Nasdaq
listing rules”), and the Board consists of a majority of “independent directors,” as defined under the rules of
the SEC and Nasdaq listing rules relating to director independence requirements.

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