Company: FLDDW
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0000950170-25-072851
Chunk: 20

Company: Fold Holdings, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 20
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/or preferred shares upon execution of an equity financing or liquidity event, these amounts were reclassified to equity upon conversion. As of and for the three months ended March 31, 2025 and year ended December 31, 2024, the fair value of the SAFEs was $0 and $171.1 million, respectively. The remeasurement of the SAFEs due to change in fair value resulted in an increase in the liability of $6.5 million and $0.1 million during the three months ended March 31, 2025 and 2024, respectively. Refer to Note 15 for further details on the fair value measurement of the SAFEs.

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Fold Holdings, Inc.

Notes to Unaudited Condensed Financial Statements</div>

During the three months ended March 31, 2025 and year ended December 31, 2024, the Company entered into SAFEs with various investors with aggregate gross proceeds of $0 and $72.1 million, respectively. Three of the SAFEs (the “Bitcoin SAFEs”) issued during 2024, totaling $64.1 million, were funded with bitcoin that the Company held in treasury as of March 31, 2025. 10. CONVERTIBLE NOTES AND WARRANTS A summary of the Company’s convertible notes for the respective periods presented is as follows: The December 2024 Initial Investor Note

| December 2024 Initial Investor Note             |     | March 31, 2025 | 20,000,000 |     | December 31, 2024 | 20,000,000 |
|:------------------------------------------------|:----|:---------------|-----------:|:----|:------------------|-----------:|
| Convertible debt, gross                         |     |                | 20,000,000 |     |                   | 20,000,000 |
| Less:                                           |     |                |            |     |                   |            |
| Debt discount, net of amortization              |     |                |  6,213,572 |     |                   |  6,636,805 |
| Debt issuance costs, net of amortization        |     |                |  1,507,602 |     |                   |  1,610,291 |
| Convertible debt, net                           |     |                | 12,278,826 |     |                   | 11,752,904 |
| Less: Current portion of long-term debt