Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 187

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 187
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 of the Trust Account. Warrants will become exercisable for New Fold Common Stock, which would increase the number of shares eligible for future resale in the public market and result in dilution to our stockholders. Outstanding Emerald Warrants to purchase an aggregate of 12,434,671shares of New Fold Common Stock will become exercisable 30 days after the completion of the Business Combination. Each whole warrant will entitle the holder thereof to purchase one share of New Fold Common Stock at a price of $11.50 per whole share, subject to adjustment. Warrants may be exercised only for a whole number of shares of New Fold Common Stock. To the extent such warrants are exercised, additional shares of New Fold Common Stock will be issued, which will result in dilution to the then existing holders of New Fold Common Stock and an increase in the number of shares eligible for resale in the public market. Sales of substantial numbers of such shares in the public market could adversely affect the market price of New Fold Common Stock. Because the market price of shares of Emerald Class A Common Stock will fluctuate, Fold’s stockholders cannot be sure of the value of the consideration they will receive in the Merger. The Merger Consideration that Fold stockholders will receive is primarily a fixed number of shares of Emerald Class A Common Stock; it is not a number of shares with a particular fixed market value. See the section entitled “ The Merger Agreement.” The market value of Emerald Class A Common Stock and Fold Capital Stock at the Closing may vary significantly from their respective values on the date the Merger Agreement was executed or at other dates, including the date on which Fold stockholders provide written consent to the adoption of the Merger Agreement and the transactions contemplated thereby. Because the Merger Consideration will not be adjusted to reflect any changes in the market value of shares of Emerald Class A Common Stock or Fold Capital Stock, the market value of the shares of Emerald Class A Common Stock issued in connection with the Business Combination and the Fold Capital Stock converted in connection with the Business Combination may be higher or lower than the values of those shares on earlier dates, and may be higher or lower than the value used to determine the Exchange Ratio. Accordingly, at the time of providing written consent to the Fold Business Combination Proposal, Fold stockholders will not know or be able to calculate the market value of the shares of Emerald Class A Common Stock they would receive upon the completion of the Business Combination. Stock price changes may result from a variety of factors, including changes in the business,