Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 389

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 389
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2023 and nine months ended September 30, 2024, we incurred $360,000 and $270,000, respectively, for the administrative support services. As of December 31, 2023 and September 30, 2024, $286,451 and $556,452 of the administrative support fees are in accrued expenses in the accompanying condensed balance sheets, respectively. The holders of the Founder Shares, Private Placement Units (including securities contained therein) are entitled to registration rights pursuant to a registration rights agreement requiring us to register such securities for resale. The holders of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders have certain “piggy -back” registration rights with respect to registration statements filed subsequent to the completion of the Business Combination and rights to require Emerald to register for resale such securities pursuant to Rule 415 under the Securities Act. Emerald granted the IPO underwriter a 45 -dayoption to purchase up to 3,300,000 additional Units to cover over -allotments, if any, at the Public Offering price less the underwriting discounts and commissions. On January 14, 2022, the underwriter purchased an additional 2,869,342 Units pursuant to the over -allotmentoption. The IPO underwriter earned a cash underwriting discount of two percent (2%) of the gross proceeds of the Units sold in the IPO and pursuant to the over -allotmentoption, or $4,973,868. Additionally, the underwriter was entitled to a deferred underwriting discount of 3.5% of the gross proceeds of the Units sold in the Public Offering and pursuant to the over -allotmentoption, or $8,704,270. The deferred underwriting discount was to become payable to the underwriter from the amounts held in the Trust Account solely in the event that we complete a Business Combination, subject to the terms of the underwriting agreement. On October 18, 2023, we entered into an agreement with the underwriter in which the underwriter waived any entitlement it may have to the deferred underwriting discount in respect of any Business Combination. As a result, Emerald recorded $8,704,270 to additional paid -incapital in relation to the waiver of the deferred underwriter fee in the accompanying condensed balance sheets. Emerald engaged Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC (“CCM”), to provide