Company: FLDDW
Filing Date: 2025-07-11
Form Type: S-1
Source: 0001213900-25-062935
Chunk: 126

Company: Fold Holdings, Inc.
Filing Date: 2025-07-11
Form: S-1
Chunk 126
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7 million incremental Class A common stock issuable upon a conversion of the Initial Notes is anti -dilutiveand as such, they have been excluded from the earnings (loss) per share calculation. In connection with the closing of the Business Combination, 0.5 million of outstanding Sponsor warrants were forfeited and cancelled, and a total of 5.3 million of Sponsor Restricted Shares were issued, subject to the restrictions as described in the section Sponsor Share Restriction Agreementabove. These shares are included in the earnings (loss) per share calculation.

|                                                                                 |     | For the      
 year ended   
 December 31, 
 2024         |            |
|:--------------------------------------------------------------------------------|:----|:-------------|-----------:|
|                                                                                 |     | Combined     
 Pro Forma    |            |
| Pro forma net income is attributable to common shareholders – basic and diluted |     | $            | 10,588,360 |
| Weighted average shares outstanding – basic and diluted                         |     |              | 46,138,876 |
| Pro forma earnings per share – basic and diluted                                |     | $            |       0.23 |
| Pro forma weighted average shares – basic and diluted                           |     |              |            |
| Emerald Public Shares(1)                                                        |     |              |  1,341,633 |
| Sponsor Held Emerald Public Shares Not Subject to Restriction(2)                |     |              |  4,723,581 |
| Sponsor Held Emerald Restricted Shares                                          |     |              |  4,867,641 |
| Total Emerald Shares                                                            |     |              | 10,932,855 |
| Fold Shares(3)                                                                  |     |              | 35,206,021 |
| Total Pro Forma Weighted Average Shares – basic and diluted                     |     |              | 46,138,876 |

____________ (1)Reflects aggregate redemptions of 3.3 million Class A common shares for $36.6 million that occurred on February 14, 2025. (2)Includes approximately 3.8 million shares assigned to unaffiliated third parties in exchange for executed non -redemptionand similar agreements. (3)Includes the exercise of 0.5 million Series B Warrant Shares for a nominal exercise price of $0.001 per share.

72 MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31,