Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 772

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 772
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 and relied upon such projections and estimates for purposes of our analyses and in arriving at our Opinions. You and the Company have advised us that no projections or estimates will need to be revised or adjusted based on the final redemptions from the EMLD trust account. We express no view or opinion with respect to any projections or estimates or the assumptions on which they are based. For purposes of our financial analyses and our Opinions, with your consent, we (i) did not perform any financial analyses to evaluate the value of EMLD or to derive valuation references ranges for any shares of EMLD for purposes of comparison with the Aggregate Merger Consideration or otherwise, and (ii) have assumed that the value of each share of EMLD Class A Common Stock is the closing price of such stock on the Nasdaq Capital Market on July 23, 2024 and the value of each share of EMLD Class B Common Stock is equal to $10.00 per share, notwithstanding the different voting rights and other non-financial terms of such shares that could impact their value. Annex F-2 In arriving at our Opinions, we have performed no appraisals or valuations of any specific assets or liabilities (fixed, contingent, or other) of the Company, including any intellectual property for which the Company might receive royalty or licensing fees and any cryptocurrencies, and we have not been furnished with any such appraisals or valuations, and have made no physical inspection of the property or assets of the Company. We express no opinion regarding the liquidation value of any entity. In arriving at the Opinions, we have undertaken no independent analysis of any pending or threatened litigation, governmental proceedings or investigations, possible unasserted claims or other contingent liabilities, to which any of the Company or their affiliates is a party or may be subject and at the Company’s direction and with its consent, in arriving at our Opinions, we have made no assumption about and therefore have not considered, the possible assertion of claims, outcomes, damages, or recoveries arising out of any such matters. None of the companies or transactions we may have used in any analysis for purposes of comparison is identical to the Company or the Merger. Accordingly, our analysis of the results of the comparisons is not mathematical; rather, it involves complex considerations and judgments about differences in the companies and transactions to which the Company and the Merger were compared and other factors that could affect the public trading value or transaction value of the companies or transactions. We also have considered