Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 194

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 194
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 Chief Executive Officer, Mr. Young, and an independent director of Emerald, Mr. Hohns, will serve as directors on the Board of Directors of New Fold; and •the fact that our Sponsor, and current and former officers and directors will lose their entire investment in us if an initial business combination is not completed. These interests may influence Emerald’s directors in making their recommendation that you vote in favor of the Business Combination Proposal, and the transactions contemplated thereby. These interests were considered by the Emerald Board when it approved the Business Combination. Emerald may amend the terms of the Public Warrants in a manner that may be adverse to holders of Public Warrants with the approval by the holders of at least a majority of the then outstanding Public Warrants or for amendments necessary for the warrants to be classified as equity. As a result, the exercise price of the Public Warrants could be increased, the exercise period could be shortened and the number of shares of New Fold Common Stock purchasable upon exercise of a Public Warrant could be decreased, all without your approval. The Public Warrants were issued in registered form under the Emerald Warrant Agreement between Continental Stock Transfer & Trust Company, N.A., as warrant agent, and Emerald. The Emerald Warrant Agreement provides that the terms of the Public Warrants may be amended without the consent of any holder to cure any ambiguity or correct any defective provision, but requires the approval by the holders of at least but requires the approval by the holders of at least 50% of the then outstanding Public Warrants to make any change that adversely affects the interests of the registered holders of Public Warrants. Accordingly, Emerald may amend the terms of the Public Warrants (i) in a manner adverse to a holder if holders of at least 50% of the then outstanding Public Warrants approve of such amendment or (ii) to the extent necessary for the Public Warrants to allow for the warrants to be classified as equity in the financial statements without the consent of any holder. Although Emerald’s ability to amend the terms of the Public Warrants with the consent of at least 50% of the then outstanding Public Warrants is unlimited, examples of such amendments could be amendments to, among other things, increase the exercise price of the Public Warrants, convert the Public Warrants into cash or stock, shorten the exercise period or decrease the number of shares of Emerald Class A Common Stock purchasable upon exercise of a Public Warrant. Emerald may redeem your unexpired Emerald Warrants prior to their exercise at a time that is