Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 500

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 500
---
 stock subject to possible redemption, December 31, 2023 
     165,721,882 
  
    Less: 

    Redemption of shares 
     (116,724,496)
  
    Plus: 

    Accretion of carrying value to redemption value 
     2,248,962 
  
    Class A common stock subject to possible redemption, December 31, 2024 
    $51,246,348 

NOTE 4. PRIVATE PLACEMENT

Simultaneously with the closing of the Public
Offering, the Sponsor purchased an aggregate of 890,000 Private Placement Units for a purchase price of $8,900,000, or $10.00 per unit,
in a private placement. Additionally, concurrently with the partial exercise of the over-allotment option by the underwriter, the Company
issued to the Sponsor 86,081 Private Placement Units at a price of $10.00 per Private Placement Unit for total proceeds of $860,810. Each
Private Placement Unit consists of one share of Class A common stock and one-half of one Warrant, with each whole warrant entitling the
holder thereof to purchase one share of Class A common stock for $11.50, subject to adjustment.

The Private Placement Warrants are identical to
the warrants sold in the Public Offering, except that if held by the Sponsor or its permitted transferees, they (including the common
stock issuable upon exercise of these warrants) may not, subject to certain limited exceptions, be transferred, assigned or sold by the
holders until 30 days after the consummation of the initial Business Combination.

F-13

FOLD HOLDINGS, INC.

(F/K/A FTAC EMERALD ACQUISITION CORP.)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

NOTE 5. RELATED PARTY TRANSACTIONS

Founder Shares

On June 2, 2021, the Sponsor purchased 7,992,750
shares of Class B common stock for an aggregate purchase price of $25,000, and on October 14, 2021, the Company effected a 1.1014-for-1.0
stock split, so that the Sponsor owned an aggregate of 8,803,333 shares of Class B common stock (the “Founder Shares”). On
November 12, 2021, the Company effected a 0.9955-for-