Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 504

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 504
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 monthly fees. For the years ended December 31, 2024 and 2023, the Company
incurred $360,000 and $360,000 for the administrative support services, respectively. As of December 31, 2024 and 2023, $646,451
and $286,451 of administrative support services was included in Due to related party in the accompanying consolidated balance sheets,
respectively. As a result of the Business Combination, the Company’s obligations under the administrative services agreement were
terminated.

NOTE 6. COMMITMENTS AND CONTINGENCIES

Registration Rights

Pursuant to a registration rights agreement entered
into on December 15, 2021, the holders of the Founder Shares, Private Placement Units and units that may be issued upon conversion of
Working Capital Loans (and any Class A common stock issuable upon the exercise of the Private Placement Units and units that may be issued
upon conversion of Working Capital Loans and upon conversion of the Founder Shares) are entitled to registration rights, requiring the
Company to register such securities and any other securities of the Company acquired by them prior to the consummation of a Business Combination
for resale (in the case of the Founder Shares, only after conversion to the Class A common stock). The holders of these securities are
entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders
have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of
a Business Combination. The registration rights agreement does not contain liquidated damages or other cash settlement provisions resulting
from delays in registering the securities. The Company will bear the expenses incurred in connection with the filing of any such registration
statements.

F-15

FOLD HOLDINGS, INC.

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

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

Warrant Amendments

The warrant agreement provides that the terms
of the warrants may be amended without the consent of any stockholder or warrant holder to cure any ambiguity or correct any defective
provision or to make any amendments that are necessary in the good faith determination of the board of directors of the Company (taking
into account then existing market precedents) to allow for the warrants to continue to be classified as equity in the Company’s
consolidated financial statements, but requires the approval by the holders of