Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 394

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 394
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 shall be subject to no transfer restrictions or any other lock -upprovisions, earn outs, or other contingencies. Upon certain events of default under Polar’s subscription agreement, Emerald agreed issue to Polar 0.1shares of Emerald Class A Common Stock for each dollar of the Polar Contribution funded as of the date of such default, and for each month thereafter until such default is cured, subject to certain limitations provided for therein. At September30, 2024, $550,000 had been funded pursuant to the Polar Contribution, gross of the discount, under the Subscription Agreement. Assuming Polar elects to settle the Polar Contribution in cash and no events of default under the Subscription Agreement, Polar will receive 550,000shares of Emerald Class A Common Stock and $550,000 in cash in connection with the Closing. Promissory Note — Related Party Prior to the closing of Emerald’s IPO, the Sponsor loaned Emerald $105,260 for expenses related to its formation and the IPO. The loan was non -interestbearing, unsecured and due on the earlier of March 31, 2022 or the closing of the initial public offering. The outstanding balance under the promissory note of $105,260 was repaid on December 27, 2021 and the promissory note was terminated and is no longer available to be drawn upon. Related Party Loans On January 13, 2023, Emerald issued an unsecured promissory note to the Sponsor pursuant to which Emerald may borrow up to an aggregate principal amount of $3,000,000. The note is non -interestbearing and payable upon the consummation of the initial business combination. No portion of the amounts outstanding under the note may be converted into units or shares. As of September 30, 2024, there was $3,000,000 outstanding under the note. On October25, 2024, Emerald issued a promissory note (the “October Note”) to Frontier SPV, LLC (“Frontier”), an affiliate of the Sponsor. Pursuant to the October Note, Frontier agreed to loan Emerald up to an aggregate principal amount of $2,000,000. The October Note is non -interestbearing and payable upon the consummation of the initial business combination. No portion of the amounts outstanding under the October Note may be converted into units or shares. On October25, 2024, Emerald borrowed $65,000 under the October Note. On October31, 2024, Emerald issued a prom