Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 395

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 395
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 B Common Stock into shares of Emerald Class A Common Stock on a one -for-onebasis. Notwithstanding the conversion, the Sponsor, as well as Emerald’s officers and directors, are not entitled to receive any funds held in the Trust Account with respect to any shares of Emerald Class A Common Stock issued to such holders as a result of the conversion, and no additional amounts will be deposited into the Trust Account in respect of shares of Emerald Class A Common Stock held by the Sponsor. Private Placement Simultaneously with the Emerald IPO, the Sponsor purchased an aggregate of 976,081 Private Placement Units at a price of $10.00 per unit for an aggregate purchase price of $9,760,810. Each Private Placement Unit consists of one Private Placement Share and one -halfof one Private Placement Warrant to purchase one share of Emerald Class A Common Stock exercisable at $11.50. The remaining proceeds from the Private Placement Units and the proceeds from the IPO are held in the Trust Account. There will be no redemption rights or liquidating distributions from the Trust Account with respect to the founder shares, Private Placement Shares or Private Placement Warrants, which will expire worthless if Emerald does not complete an initial business combination. The Private Placement Warrants are identical to the Public Warrants, except that if held by the initial purchasers or their permitted transferees, (i) they (including the Emerald Class A Common Stock issuable upon exercise of the Private Placement Warrants) may not, subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the consummation of the initial business combination, and (ii) they are entitled to registration rights. There are no redemption rights or liquidating distributions with respect to the founder shares, Private Placement Shares or Private Placement Warrants, which will expire worthless if Emerald does not complete an initial business combination. On January 3, 2024, the Company, the Sponsor and Emerald ESG Funding, LLC (“ESG Funding”) entered into a subscription agreement (the “Subscription Agreement”) with Polar Multi -StrategyMaster Fund (“Polar”) to cover working capital requirements of Emerald. Pursuant to the terms and subject to the conditions of the 250 Subscription Agreement, Polar agreed to contribute up to $550,000 to ESG Funding (the “Polar Contribution”), which amount was contributed in full as of April 2024. The Polar Contribution shall be repaid upon Emerald’s closing of an initial business combination. The Polar Contribution is non -interestbearing