Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 804

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 3
Chunk 804
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 as the redemption value approximates
the fair value. The table below presents a reconciliation of the numerator and denominator used to compute basic and diluted net (loss)
income per share for each class of common stock:

    For the Year Ended December 31, 

    2024  
    2023 

    Class A  
    Class B  
    Class A  
    Class B 
  
    Basic and diluted net (loss) income per share of common stock: 

    Numerator: 

    Allocation of net (loss) income 
    $(1,868,532) 
    $—  
    $3,586,446  
    $857,188 
  
    Denominator: 

    Weighted-average shares outstanding 
     14,970,335  
     —  
     25,873,722  
     6,184,019 
  
    Basic and diluted net (loss) income per share of common stock 
    $(0.12) 
    $—  
    $0.14  
    $0.14 

Class A Common Stock Subject to Possible
Redemption

The Company accounts for its common stock subject
to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing
Liabilities from Equity.” Common stock subject to mandatory redemption (if any) is classified as a liability instrument and measured
at fair value. Conditionally redeemable common stock (including common stock that features redemption rights that are within the control
of the holder or subject to possible redemption upon the occurrence of uncertain events not solely within the Company’s control)
is classified as temporary equity. At all other times, common stock is classified as stockholders’ deficit. The Company’s
Class A common stock sold in the Public Offering and over-allotment features certain redemption rights that are considered to be outside
of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, as of December 31, 2024 and 2023,
4,645,816 and 15,630,150 shares of Class A common stock subject to possible redemption are presented at redemption value as temporary
equity, outside of the stockholders’ deficit section of the Company’s balance sheets, respectively.

Fair Value of Financial Instruments

The fair value of the Company’s assets and
liabilities which qualify as financial instruments under FASB ASC