Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 1024

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 1024
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 (the “Closing”)
is greater than $90,000, the aggregated consideration to be paid in the Transactions will be increased by 20% of the increase in value
of the amount of Bitcoin in Fold’s treasury as of July 24, 2024, up to a maximum of $54.75 million. There are no other adjustments
to the consideration amount contemplated in the Merger Agreement.

For a description of the Business Combination
and certain agreements executed in connection therewith, see the Current Report on Form 8-K filed by the Company on July 24, 2024 and
February 14, 2025.

NOTE 7. STOCKHOLDERS’ DEFICIT

Preferred Stock

The Company is authorized to issue 1,000,000 shares
of preferred stock with a par value of $0.0001 per share. As of December 31, 2024 and 2023, there were no shares of preferred stock issued
or outstanding.

Class A Common Stock

The Company is authorized to issue 42,000,000
shares of Class A common stock with a par value of $0.0001 per share. Holders of Class A common stock are entitled to one vote for each
share. Following the Meeting on September 19, 2023, the Sponsor determined to convert all the outstanding shares of Class B common stock
into shares of Class A common stock on a one-for-one basis (the “Class B Conversion”). Notwithstanding the Class B Conversion,
the Sponsor, as well as the Company’s officers and directors, will not be entitled to receive any funds held in the Trust Account
with respect to any shares of Class A common stock issued to such holders as a result of the Class B Conversion, and no additional amounts
will be deposited into the Trust Account in respect of shares of Class A common stock held by the Sponsor. As of December 31, 2024 and
2023, there were 14,237,038 and 25,221,372 shares of Class A common stock issued and outstanding, respectively, of which 4,645,816 shares
and 15,630,150 shares are subject to possible redemption, respectively, and thus classified as temporary equity.

F-18

FOLD HOLDINGS, INC.

(F/K/A FTAC EMERALD ACQUISITION CORP.)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

Class B Common