Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 392

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 392
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 relationship (including any indebtedness or guarantee of indebtedness) involving Emerald. In addition, Emerald’s audit committee, pursuant to its charter, is responsible for reviewing and approving related party transactions to the extent that Emerald enters into such transactions. An affirmative vote of a majority of the members of the audit committee present at a meeting at which a quorum is present will be required in order to approve a related party transaction. Without a meeting, the unanimous written consent of all of the members of the audit committee will be required to approve a related party transaction. Emerald also requires each of its directors and officers to complete a directors’ and officers’ questionnaire that elicits information about related party transactions. These procedures are intended to determine whether any such related party transaction impairs the independence of a director or presents a conflict of interest on the part of a director, employee or officer. Emerald’s audit committee reviews on a quarterly basis all payments that were made to the Sponsor, officers or directors, or its or their affiliates. Founder Shares In June 2021, the Sponsor purchased 7,992,750 shares of Emerald Class B Common Stock for an aggregate purchase price of $25,000. In October 2021, Emerald effected a 1.1014 -for-1.0 stock split of its common stock. In November 2021, Emerald effected a 0.9955 -for-1.0 stock split of its common stock. In January 2022, as a result of the underwriter in Emerald’s IPO exercising its overallotment option in part, Emerald’s initial holders forfeited 148,192 founder shares. As a result, Emerald’s initial stockholders held 8,615,141 founder shares, which was determined based on the expectation that the founder shares would represent 25% of the aggregate of Emerald’s founder shares, the placement shares and Emerald’s issued and outstanding public shares after the IPO. Following the First Extension Meeting, the Sponsor determined to convert all the outstanding shares of Emerald Class B Common Stock into shares of Emerald Class A Common Stock on a one -for -onebasis. Notwithstanding the conversion, the Sponsor, as well as Emerald’s officers and directors, are not entitled to receive any funds held in the Trust Account with respect to any shares of Emerald Class A Common Stock issued to such holders as a result of the conversion, and no additional amounts will be deposited into the Trust Account in respect of shares of Emerald Class A Common Stock held by the Sponsor. Private Placement Simultaneously with the Emerald IPO