Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 228

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 228
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 Extension Amendment”) and Trust Agreement giving Emerald the right to extend the date by which it has to complete an initial business combination from January 19, 2024 to December 20, 2024. Between January 9, 2024 and January 17, 2024, Emerald entered into non -redemptionagreements with unaffiliated third parties (together with the 2023 Non -RedemptionAgreements, the “Non -RedemptionAgreements”) in exchange for each such party agreeing not to redeem Public Shares in connection with the Second Extension Meeting. In exchange for the foregoing commitments not to redeem Public Shares, Emerald agreed to issue or cause to be issued an aggregate of 1,112,500 shares of Class A Common Stock at the time of Emerald’s initial business combination. On December17, 2024, Emerald held a special meeting of stockholders (the “Third Extension Meeting”) pursuant to which its stockholders approved an amendment to Emerald’s second amended and restated certificate of incorporation (the “Third Charter Extension Amendment”) and Trust Agreement giving Emerald the right to extend the date by which it has to complete an initial business combination from December20, 2024 to December20, 2025. 132 After the IPO, Emerald’s management team commenced an active search for prospective businesses and/or assets to acquire in its initial business combination. The Emerald Board and management have extensive experience in the financial services and financial technology industries, in ESG and impact investing and initiatives as well as with operational management, and investment and financial analysis. As such, the Emerald Board members and management team believe that they are qualified to conduct and analyze the due diligence required for Emerald to identify a merger partner. See the section entitled “ Information About Emerald — Directors and Executive Officers” for additional information regarding the experience of the Emerald Board and management team. Although Emerald initially focused its efforts on identifying companies in sectors such as: clean/renewable energy; water sustainability; agricultural technology; shared economy software; and next generation mobility, it was not required to limit its activities to any particular industry. In the evaluation of business combination partners, Emerald’s Board and management team considered many factors. Emerald’s Board did not consider it practicable or relevant to quantify or otherwise assign relative weights to the specific factors it considered in reaching its final decision. Important criteria that Emerald used in evaluating prospective business transaction opportunities included: •Strong management team. •Opportunities for growth. •Defensible and differentiated business niche. •Core commitment to providing social, financial