Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 184

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 184
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 and Corporate Governance—Corporate Governance—Director Independence” for discussion regarding director
independence and qualifications.

Amended and Restated Registration
Rights Agreement

In connection with the consummation
of the Business Combination and as contemplated by the Merger Agreement, the Company, Emerald ESG Sponsor LLC (“ESG Sponsor”),
Emerald ESG Advisors, LLC (“ESG Advisors”) and Emerald ESG Funding, LLC (“ESG Funding” and, collectively with
ESG Sponsor and ESG Advisors, the “Sponsors”), certain stockholders of Legacy Fold and certain stockholders of the Company
(collectively, the “Registration Rights Holders”) entered into an Amended and Restated Registration Rights Agreement, dated
as of February 14, 2025 (the “A&R Registration Rights Agreement”).

Under the A&R Registration
Rights Agreement, the Company is obligated to file a registration statement with the SEC to register the resale of (a) any shares of Common
Stock held by a Registration Rights Holder as of the Closing and, to the extent acquired after the Closing and deemed to be a “restricted
security” (as defined in Rule 144 promulgated under the Securities Act), any shares of Common Stock acquired following the Closing,
and (b) any other equity security of the Company issued or issuable with respect to any such share of Common Stock by way of a stock dividend
or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization or otherwise,
in each case held by such Registration Rights Holder.

The Company agreed to, within
20 business days after the Closing, file with the SEC a shelf registration statement registering the resale of the Common Stock held by
the Registration Rights Holders and use its commercially reasonable efforts to have such registration statement declared effective as
soon as practicable after the filing thereof, but in no event later than 60 days following the filing deadline. In addition, pursuant
to the terms of the A&R Registration Rights Agreement and subject to certain requirements and customary conditions, the Sponsor holders
are entitled to three demand registrations and the Legacy Fold holders are entitled to six demand registrations; provided, however, that
the Company is not obligated to participate in more than four demand registrations in any twelve month period. Further, the Company is
not obligated to participate in an underwritten offering if the aggregate gross proceeds from such offering are expected to be $25 million
or less. The A&R Registration Rights Agreement also provides “piggy