Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 69

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 69
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 Merger Agreement, the Business Combination is conditioned upon the approval of holders of the requisite number of outstanding shares of Emerald Common Stock entitled to vote, whether in person or by proxy, at the special meeting. 32 In accordance with the Support Agreement entered into concurrently with the execution of the Merger Agreement, holders of 9,591,222shares of Emerald Class A Common Stock (or 66.8% of the outstanding shares of Emerald Common Stock as of September 30, 2024) have agreed to vote in favor of each of the proposals, subject to certain customary conditions. Assuming all of the outstanding shares of Emerald Common Stock subject to the Support Agreement are voted in favor of each proposal, in accordance with the terms of the Support Agreement, the votes of such shares of Emerald Common Stock will be sufficient for the approval of the Business Combination Proposal, the Organizational Documents Proposal, each of the Advisory Organizational Documents Proposals, the Equity Incentive Plan Proposal, the Employee Stock Purchase Plan Proposal, the Nasdaq Proposal, the Adjournment Proposal and each director nominee pursuant to the Election of Directors Proposal, and will not require the vote of any additional shares of Emerald Common Stock in order to be approved. For more information about these proposals, see the section entitled “ Quorum and Vote Required for the Emerald Proposals.” Recommendation to Emerald Stockholders Our board of directors believes that each of the Emerald Proposals is in the best interests of Emerald and our stockholders and unanimously recommends that its stockholders vote “FOR” each of the Emerald Proposals, including “FOR” each of the director nominees. Emerald Board’s Reasons for the Approval of the Business Combination After careful consideration, the Emerald Board recommends that its stockholders vote “FOR” the approval of the Business Combination Proposal. For a description of the Emerald Board’s reasons for the approval of the Business Combination, see the section entitled “ The Business Combination — Emerald Board’s Reasons for the Approval of the Business Combination.” Opinion of Emerald’s Financial Advisor Emerald has engaged Northland Securities, Inc. (“Northland”) as Emerald’s financial advisor in connection with the Merger. In connection with this engagement, Northland delivered a written opinion, dated July 23, 2024, to the Emerald board of directors as to the fairness, from a financial point of view and as of the date of such opinion, of (i) the consideration to be paid by Emerald to the Fold stockholders pursuant to the Merger Agreement, and (ii) whether Fold has an aggregate fair market value