Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 62

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 62
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 Emerald Board shall have publicly withdrawn, modified or changed in an adverse manner its recommendation to vote in favor of the Merger and other proposals; or •by written notice from Fold to Emerald if Nasdaq ultimately determines that Emerald cannot meet its initial listing requirements following the Effective Time (other than those which by their nature are to be satisfied as of immediately following the Closing). Ownership of New Fold After the Closing As of September 30, 2024, there were 14,349,106 shares of Emerald Class A Common Stock and no shares of Emerald Class B Common Stock issued and outstanding. There were also outstanding an aggregate of 12,922,712 warrants, which includes 488,041 Private Placement Warrants and 12,434,671 Public Warrants. Each warrant entitles the holder thereof to purchase one share of Emerald Class A Common Stock and, following the Business Combination, will entitle the holder thereof to purchase one share of New Fold Common Stock. Under the “minimum redemptions” scenario, upon completion of the Business Combination, Emerald’s Public Stockholders would retain an ownership interest of approximately 9.6% in New Fold, the Sponsor and its affiliates and certain current and former directors, as the sole holders of Founder Shares, will retain an ownership interest of approximately 13.0% of New Fold, and Fold stockholders will own approximately 70.5% of New Fold. Under the “25% redemptions” scenario, upon completion of the Business Combination, Emerald’s Public Stockholders would retain an ownership interest of approximately 7.3% in New Fold, the Sponsor and its affiliates and certain current and former directors, as the sole holders of Founder Shares, will retain an ownership interest of approximately 13.3% of New Fold, and Fold stockholders will own approximately 72.3% of New Fold. Under the “maximum redemptions” scenario, upon completion of the Business Combination, Emerald’s Public Stockholders would retain an ownership interest of approximately 2.4% in New Fold, the Sponsor and its affiliates and certain current and former directors, as the sole holders of Founder Shares, will retain an ownership interest of approximately 13.9% of New Fold, and Fold stockholders will own approximately 76.4% of New Fold. The following summarizes the pro forma ownership of New Fold Common Stock following the Business Combination assuming the minimum redemptions, 25% redemptions and maximum redemptions scenarios. The ownership percentages reflected in the table are based upon the