Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 740

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 3
Chunk 740
---
 to redeem their shares for cash at a redemption price of approximately $10.4762 per share, for an aggregate redemption amount of
approximately $96,791,644. Following the redemptions, 15,630,150 shares of redeemable Class A common stock remained outstanding.

Between September 7 and 15, 2023, we entered into
non-redemption agreements with unaffiliated third parties in exchange for each such party agreeing not to redeem public shares in connection
with the Meeting. In exchange for the foregoing commitments not to redeem public shares, the Company agreed to issue or cause to be issued
an aggregate of 1,610,000 Class A Shares at the time of the Company’s initial business combination. In addition, the Company agreed
that it will not utilize any funds from the Trust Account to pay any potential excise taxes that may become due pursuant to the IR Act
upon a redemption of public shares, including in connection with the Charter Amendment, an initial business combination or liquidation
of the Company.

Following the Meeting on September 19, 2023, the
Sponsor determined to convert all the outstanding shares of Class B common stock to shares of Class A common stock on a one-for-one basis
(the “Class B Conversion”). Notwithstanding the Class B Conversion, the Sponsor, as well as the Company’s officers and
directors, will not be entitled to receive any funds held in the Trust Account with respect to any shares of Class A common stock issued
to such holders as a result of the Class B Conversion, and no additional amounts will be deposited into the Trust Account in respect of
shares of Class A common stock held by the Sponsor.

On January 19, 2024, we held a special meeting
of our stockholders (the “January Meeting”) at which the Company’s stockholders approved (A) an amendment (the “January
Charter Amendment”) to the Company’s Second Amended and Restated Certificate of Incorporation to extend the date by which
the Company has to consummate its initial business combination from January 19, 2024 to December 20, 2024 (or such earlier date as determined
by the Company’s Board of Directors); and (B) an amendment (the “January Trust Amendment”) to the Trust Agreement to
allow the trustee to liquidate the Trust Account at such time as may be determined by the Company as set forth in the January Charter
Amendment. In connection with the January Meeting, the holders