Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 252

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 252
---
     | Post-Money Valuation Cap $190,000,000 |
| SAFE-38     |     |               |  5,000,000 |     | Post-Money Valuation Cap $100,000,000 |
| SAFE-41     |     |               | 14,106,134 |     | Post-Money Valuation Cap $265,000,000 |

9. SENIOR SECURED CONVERTIBLE NOTES AND WARRANTS

In December 2024, the Company entered into a Securities
Purchase Agreement (the “SPA”) with an institutional investor (the “Investor”) for the sale of Senior Secured
Convertible Notes which are convertible into shares of the Company’s common stock. The Company executed the SPA and consummated
the issuance of (i) an Initial Note in the principal amount of $20.0 million with a conversion price of $11.50 (the “December 2024
Initial Investor Note”), and (ii) Series A, Series B, and Series C warrants to initially acquire up to 869,565, 500,000, and 869,565
additional shares of the Company’s common stock, respectively, with an initial exercise price of $12.50, $0.001, and $11.50 per
share of common stock, respectively, subject to adjustment (collectively, the “Investor Warrants”). The Series A warrants
are exercisable immediately and expire eight years from the date of issuance. The Series B and Series C warrants become exercisable at
the time of a public listing event (“Public Company Date”) and expire eight years from the date of issuance and one year from
the Public Company Date, respectively.

Following the Public Company Date, Fold may issue
to the Investor an additional Senior Secured Convertible Note in an aggregate principal amount of up to $10,000,000 (the “Additional
Investor Note” and, together with the December 2024 Initial Investor Note, the “Investor Notes”), subject to the mutual
discretion of Fold and the Investor.

As of December 31, 2024, the principal amount
outstanding under the December 2024 Initial Investor Note was $20.0 million. The Investor Notes are secured by Fold’s assets as
collateral, including 300 bitcoin held within Fold’s digital asset Investment Treasury, and mature ten months from the date of issuance,
or 36 months from the Public Company Date, if that date has occurred. The Company