Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 386

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 386
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, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) subject to the approval of the remaining stockholders and the board of directors, dissolve and liquidate. There will be no redemption rights or liquidating distributions with respect to outstanding warrants, which will expire worthless if Emerald fails to complete the Business Combination by the Extension Deadline. Results of Operations Emerald has neither engaged in any operations (other than searching for a Business Combination after the IPO) nor generated any revenues to date. Emerald’s only activities from inception through September 30, 2024 were organizational activities, those necessary to prepare for the IPO, and, after the IPO, identifying a target company 245 for an initial Business Combination. Emerald does not expect to generate any operating revenues until after the completion of our Business Combination, at the earliest. Emerald generates non -operatingincome in the form of interest income on the marketable securities held in the Trust Account. Emerald incurs expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses. For the nine months ended September 30, 2024, we had a net loss of $1,444,875, which consisted of general and administrative expenses of $2,154,179, interest expense of $323,197, provision for income tax of $482,369 and non -redemptionagreement expense of $838,825, offset by interest income earned on investments held in Trust Account of $2,353,695. For the nine months ended September 30, 2023, we had net income of $4,202,024, which consisted of interest income earned on investments held in Trust Account of $9,027,924, offset by formation and operating costs of $2,250,994, non -redemptionagreement expense of $708,400 and provision for income taxes of $1,866,506. For the year ended December 31, 2023, we had net income of $4,443,634, which consisted of interest income earned on investments held