Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 113

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 113
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 Restriction Agreement with Emerald (the “Sponsor Share Restriction Agreement”). Pursuant to the Sponsor Share
Restriction Agreement, at the Closing, (i) all Emerald Warrants held by the Sponsors will be forfeited and cancelled, and (ii) approximately
5.3 million of the Sponsors’ founder shares (the “subject founder shares”) shall be subject to time-based transfer restrictions
subject to early release as follows:

| ● | one-third of the subject founder shares shall remain subject to transfer restrictions until the earlier                                  
 of (a) six months following the Closing or (b) the first date that the stock price exceeds $12.00 for 20 trading days of any consecutive 
 30 trading day period ending after the date that is 90 days after the Closing;                                                           |

| ● | one-third of the subject founder shares shall remain subject to transfer restrictions until the earlier                                
 of (a) (x) in the event that Emerald and Fold raise $50 million or more as of the Closing, one year following the Closing, and (y) in  
 the event that Emerald and Fold raise less than $50 million as of the Closing, two years following the Closing, or (b) the first date  
 that the stock price exceeds $15.00 for 20 trading days of any consecutive 30 trading day period ending after the date that is 90 days 
 after the Closing; and                                                                                                                 |

| ● | one-third of the subject founder shares shall remain subject to transfer restrictions until the earlier                                 
 of (a) ten years following the Closing or (b) the first date that the stock price exceeds $17.00 for 20 trading days of any consecutive 
 30 trading day period ending after the date that is 90 days after the Closing.                                                          |

In the event that Emerald and Fold raise less
than $50.0 million from the date of the Merger Agreement through the second anniversary of the Closing, the Sponsors shall automatically
forfeit, for no additional consideration, up to 1,000,000 subject founder shares, as described in the Sponsor Share Restriction Agreement.

On February 14, 2025, the Company and the Sponsors entered into an amendment to the Sponsor Share Restriction Agreement to release 450,000
restricted shares of the Company from the price based lockup found therein.

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UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET

AS OF DECEMBER