Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 436

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 436
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 our operations.

73

Off-Balance Sheet Financing Arrangements

We have no obligations, assets or liabilities,
which would be considered off-balance sheet arrangements as of December 31, 2024. We do not participate in transactions that create relationships
with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established
for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements,
established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets.

Contractual Obligations

Other than the below, we do not have any long-term
debt obligations, capital lease obligations, operating lease obligations, purchase obligations or long-term liabilities.

We entered into an administrative services agreement
pursuant to which we pay the Sponsor or its designee a monthly fee of $30,000 for office space, administrative and shared personnel support
services to the Company. We began incurring these fees on December 16, 2021 and will continue to incur these fees monthly until the earlier
of the completion of the Business Combination and our liquidation. For the year ended December 31, 2024, we incurred $360,000 for the
administrative support services. As of December 31, 2024, $646,452 of the administrative support fees are in accrued expenses in the accompanying
balance sheets.

The holders of the founder shares, private placement
units (including securities contained therein) and units that may be issued upon conversion of working capital loans (including securities
contained therein) are entitled to registration rights pursuant to a registration rights agreement requiring us to register such securities
for resale (in the case of the founder shares, only after conversion to the Class A common stock). The holders of these securities are
entitled to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders have certain
“piggy-back” registration rights with respect to registration statements filed subsequent to the completion of the initial
Business Combination and rights to require us to register for resale such securities pursuant to Rule 415 under the Securities Act.

We granted the underwriter of the Public Offering
a 45-day option to purchase up to 3,300,000 additional Units to cover over-allotments, if any, at the Public Offering price less the underwriting
discounts and commissions. On January 14,