Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 181

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 181
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spectus. See “ The exercise of Emerald’s directors’ and officers’ discretion in agreeing to changes or permitted waivers in the terms of the Business Combination may result in a conflict of interest when determining whether such changes to the terms of the Business Combination or waivers of conditions are appropriate and in the best interests of Emerald stockholders.” and “ Our Public Stockholders will experience immediate dilution due to the issuance of shares of Emerald Class A Common Stock to Fold stockholders in the Business Combination. Having a minority share position may reduce the influence that our current stockholders have on the management of New Fold.” Because there are no underwriters engaged in connection with the Business Combination, prior to the opening of trading on Nasdaq on the trading day immediately following the Closing, there will be no book building process and no price at which underwriters initially sold shares to the public to help inform efficient and sufficient price discovery with respect to the initial post -closingtrades on Nasdaq. Therefore, buy and sell orders submitted prior to and at the opening of initial post -closingtrading of New Fold Common Stock on Nasdaq will not have the benefit of being informed by a published price range or a price at which the underwriters initially sold shares to the public, as would be the case in an underwritten initial public offering. There will be no underwriters assuming risk in connection with an initial resale of shares of New Fold Common Stock or helping to stabilize, maintain or affect the public price of New Fold Common Stock following the Closing. Moreover, we will not engage in, and have not and will not, directly or indirectly, request the financial advisors to engage in, any special selling efforts or stabilization or price support activities in connection with New Fold Common Stock that will be outstanding immediately following the Closing. All of these differences from an underwritten public offering of Fold’s securities could result in a more volatile price for New Fold Common Stock. Such differences from an underwritten public offering may present material risks to unaffiliated investors that would not exist if Fold became a publicly listed company through an underwritten initial public offering instead of upon completion of the Business Combination. 98 The unaudited pro forma financial information included herein may not be indicative of what New Fold’s actual financial position or results of operations would have been. The unaudited pro forma financial information included in the section entitled “ Unaudited Pro Forma Condensed Combined Financial Information” may not be representative of New Fold’s results if the Business Combination is completed. Emerald and Fold currently operate as separate companies and have had