Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 1044

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 6
Chunk 1044
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643. Following the redemptions, 4,757,884 shares of redeemable Class A common stock remained outstanding.

On January 17, 2024, we entered into non-redemption
agreements with unaffiliated third parties in exchange for each such party agreeing not to redeem public shares in connection with the
January Meeting. In exchange for the foregoing commitments not to redeem public shares, we agreed to issue or cause to be issued an aggregate
of 1,112,500 Class A Shares at the time of our initial business combination.

On July 24, 2024, the Company and Fold, Inc. (“Fold”)
announced that they have entered into an Agreement and Plan of Merger (the “Merger Agreement”) by and among the Company, EMLD
Merger Sub Inc., a wholly-owned subsidiary of the Company (“Merger Sub”), and Fold, pursuant to which, among other things,
Merger Sub will be merged with and into Fold with Fold surviving the merger as a wholly-owned subsidiary of the Company (the “Merger”
and, together with the other transactions contemplated by the Merger Agreement, the “Transactions”).

71

On December 17, 2024, we held a special meeting
of our stockholders (the “Third Extension Meeting”) at which the Company’s stockholders approved (A) an amendment (the
“Third Charter Amendment”) to the Company’s Second Amended and Restated Certificate of Incorporation to extend the date
by which the Company has to consummate its initial business combination from December 20, 2024 to December 20, 2025 (or such earlier date
as determined by the Company’s Board of Directors); and (B) an amendment (the “Third Trust Amendment”) to the Trust
Agreement to allow the trustee to liquidate the Trust Account at such time as may be determined by the Company as set forth in the Third
Charter Amendment. In connection with the Third Extension Meeting, the holders of 112,068 shares of redeemable Class A common stock exercised
their right to redeem their shares for cash at a redemption price of approximately $11.01878 per share, for an aggregate redemption amount
of approximately $1.2 million. Following the redemptions, 4,645,816 shares of redeemable Class A common stock remain outstanding. As of
December 31, 2024, we recorded $1,167,245 of excise tax liability calculated as