Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 983

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 983
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 for or exercise any right or cause to be filed a registration statement,
including any amendments thereto, with respect to the registration of any Securities (other than the Business Combination Registration
Statement or as permitted pursuant to the A&R Registration Rights Agreement) or (iv) publicly disclose the intention to do any of
the foregoing.

The Lock-Up Period under the
Lock-Up Agreements shall terminate on August 14, 2025.

Founder shares

In June 2021, our sponsor
purchased 7,992,750 founder shares for an aggregate purchase price of $25,000. In October 2021, we effected a 1.1014-for-1.0 stock split
of our common stock. In November 2021, we effected a 0.9955-for-1.0 stock split of our common stock. In January 2022, as a result of the
underwriter exercising its overallotment option in part, our initial holders forfeited 148,192 founder shares. As a result, our initial
stockholders held 8,615,141 founder shares prior to the Closing. The number of founder shares was determined based on the expectation
that the founder shares would represent 25% of the aggregate of our founder shares, the placement shares and our issued and outstanding
public shares after the initial public offering.

Following the Meeting, our
sponsor determined to convert all the outstanding shares of Class B common stock into shares of Class A common stock on a one-for-one basis
(the “Class B Conversion”). Notwithstanding the Class B Conversion, our sponsor did not 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 were deposited into the trust account in respect of shares of Class A common stock held by our sponsor.

Our sponsors have agreed after
the Closing not to transfer, assign or sell any of their founder shares except as set forth in the Sponsor Share Restriction Agreement.

94

Private Placement

Simultaneously
with the initial public offering, our sponsor purchased an aggregate of 976,081 placement units at a price of $10.00 per unit for an aggregate
purchase price of $9,760,810. Each placement unit consisted of one placement share and one-half of one placement warrant to purchase one
share of our Class A common stock exercisable at $11.50. The remaining proceeds from