Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 110

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 110
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 related financing transactions as if they had occurred on January 1, 2024.

The assumptions and estimates underlying the unaudited
adjustments to the unaudited pro forma condensed combined financial statements are described in the accompanying notes, which should be
read in conjunction with, the following:

Certain direct and incremental costs related to
the Business Combination will be recorded as a reduction against additional paid-in-capital, consistent with the accounting for reverse
recapitalizations. The unaudited pro forma condensed combined financial statements do not give effect to any anticipated synergies, operating
efficiencies or cost savings that may be associated with the Business Combination.

The unaudited condensed combined pro forma adjustments
reflecting the consummation of the Business Combination and related transactions are based on certain estimates and assumptions. These
estimates and assumptions are based on information available as of the dates of these unaudited pro forma condensed combined financial
statements and may be revised as additional information becomes available. Therefore, it is likely that the actual adjustments will differ
from the pro forma adjustments and it is possible the difference may be material.

The following describes the above entities:

Emerald

The Company is a blank check company incorporated
in Delaware on February 19, 2021, for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses (a “Business Combination”). The Company may pursue an initial
Business Combination target in any business or industry.

As of December 31, 2024, the Company had not commenced
any operations. All activity for the period from February 19, 2021 (inception) through December 31, 2024 relates to Emerald’s formation,
the Public Offering (the “Public Offering” or “IPO”), and efforts in identifying a target to consummate an initial
Business Combination. The Company will not generate any operating revenues until after the completion of its initial Business Combination,
at the earliest. The Company generates non-operating income in the form of interest income from the proceeds derived from the Public Offering
placed in the Trust Account.

Fold

Fold is a bitcoin financial services company dedicated
to expanding access to bitcoin through a comprehensive suite of consumer financial services. Fold was formed with the purpose of creating
a modern financial services platform that allows customers to earn, accumulate, and utilize bitcoin in their everyday life. Fold offers
consumers an FDIC insured checking account, a prepaid Visa debit card, bill payments