Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 405

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 405
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 determine that each of the members of the audit committee will satisfy the independence requirements of Nasdaq listing rules and Rule 10A -3under the Exchange Act. Each member of the audit committee can read and understand fundamental financial statements in accordance with applicable audit committee requirements. In arriving at this determination, the New Fold Board examined each audit committee member’s scope of experience and the nature of their prior and/or current employment. Mr.Simha will serve as the chair of the audit committee. The New Fold Board is expected to determine that Mr.Simha qualifies as an audit committee financial expert within the meaning of SEC regulations and meets the financial sophistication requirements of Nasdaq listing rules. In making this determination, the New Fold Board considered Mr.Simha’s formal education and previous experience in financial roles. Both New Fold’s independent registered public accounting firm and management periodically will meet privately with New Fold’s audit committee. The functions of the audit committee will include, among other things: •evaluating the performance, independence, compensation, retention, oversight and qualifications of New Fold’s independent auditors and determining whether to retain New Fold’s existing independent auditors or engage new independent auditors; •reviewing New Fold’s financial reporting processes and disclosure controls; •reviewing and approving the engagement of New Fold’s independent auditors to perform audit services and any permissible non -auditservices; •reviewing the adequacy and effectiveness of New Fold’s internal control policies and procedures, including reviewing, with the independent auditors, management’s plans with respect to the responsibilities, budget, staffing and effectiveness of New Fold’s internal audit function, and reviewing and approving New Fold’s head of internal audit (if established); •reviewing with the independent auditors the annual audit plan, including the scope of audit activities and all critical accounting policies and practices to be used by New Fold; •obtaining and reviewing at least annually (if required by applicable stock exchange listing requirements) or as otherwise determined, a report by New Fold’s independent auditors describing the independent auditors’ internal quality -controlprocedures and any material issues raised by the most recent internal quality -controlreview, peer review, or any inquiry or investigation by governmental or professional authorities; •setting clear hiring policies for employees or former employees of New Fold’s independent auditors; •monitoring the rotation of partners of New Fold’s independent auditors on New Fold’s engagement team as required by law; •at least annually, reviewing relationships that may reasonably be thought to bear on the independence of the committee, receiving and