Company: FLDDW
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001213900-25-026537
Chunk: 241

Company: Fold Holdings, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 241
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 calculating the number of diluted shares outstanding as of December 31, 2024 or 2023, as the number of dilutive shares is based on     
 a conversion ratio associated with the pricing of a future financing or liquidation event. Therefore, the contingently convertible SAFEs’ 
 conversion ratio, and the resulting number of dilutive shares, is not determinable until the contingency is resolved.                     |

| (2) | The December 2024 Initial Investor Note contains a conversion                                                                            
 feature that allows the Investor the option to convert the December 2024 Initial Investor Note in exchange for 1,739,130 shares of Class 
 A common stock. The effect of the 1,739,130 incremental Class A common shares issuable upon a conversion of the December 2024 Initial    
 Investor Note is anti-dilutive and as such, they have also been excluded from the loss per share calculation.                            |

| (3) | As of December 31, 2024, Fold had 869,565 Series A, 500,000                                                                                 
 Series B, and 869,565 Series C Warrants outstanding, at an exercise price of $12.50, $0.001, and $11.50 per share, respectively. The        
 exercise price of the Series A and Series C Warrants exceeds the market value of the Company’s common shares. These warrants are considered 
 anti-dilutive and are excluded from the loss per share calculation when the exercise price exceeds the average market value of the common   
 share price during the applicable period. The exercise price of the Series B Warrants is nominal, but the Investor’s ability to exercise    
 these warrants depends on the occurrence of the Public Company Date, and are therefore contingently exercisable. The Company excluded       
 these warrants from basic and diluted EPS due to this contingency.                                                                          |

17. SUBSEQUENT EVENTS The Company evaluated subsequent events, if any, that would require an adjustment to the Company’s financial statements or require disclosure in the notes to the financial statements through March 28, 2025, the date the financial statements were available to be issued. Where applicable, the notes to these financial statements have been updated to discuss significant subsequent events which have occurred. Additionally, the Company identified the following subsequent events for disclosure: FTAC Emerald Merger Pursuant to the Merger Agreement as described within Note 1, on February 14, 2025, FTAC Emerald acquired all of the issued and outstanding equity interests of Fold for an aggregate purchase price