Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 215

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 215
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 related to the December 2024 Initial Investor Financing for the nine months ended September30, 2024, and the year ended December31, 2023, respectively. Note 4. Earnings (Loss) Per Share Pro Forma Weighted Average Shares (Basic and Diluted) The following pro forma weighted average shares calculations have been performed for the nine months ended September 30, 2024 and for the year ended December 31, 2023. The unaudited condensed combined pro forma earnings (loss) per share (“EPS”), basic and diluted, are computed by dividing earnings or loss by the weighted -averagenumber of shares of common stock outstanding during the period. Prior to the Business Combination, Emerald had Class A common stock, Class B common stock, and preferred stock authorized to be issued. There were not any Class B common shares or preferred shares issued or outstanding as of September 30, 2024 or December 31, 2023. In connection with the closing of the Business Combination, each currently issued and outstanding Emerald Class A common share will automatically convert on a one -for-onebasis, into New Fold Class A common shares. Each currently issued and outstanding Emerald Class A common share will thereafter be renamed and will have the rights and restrictions attached to the New Fold Class A common shares. As of September 30, 2024 Emerald had 12.5 million Public Warrants and 0.5 million Private Placement Warrants issued and outstanding. In connection with the Business Combination, Emerald will forfeit the Private Placement Warrants. The warrants are exercisable at $11.50 per share which exceeds the current market price of Emerald’s Class A common shares. Additionally, Fold had 0.9million Series A and 0.9million Series C Warrants outstanding, at an exercise price of $12.50 and $11.50 per share, respectively, which exceeds the current market price of Fold’s common shares. These warrants are considered anti -dilutiveand excluded from the earnings (loss) per share calculation when the exercise price exceeds the average market value of the common share price during the applicable period. The Initial Notes, as described above, contain a conversion feature that allows the Investor the option to convert the Initial Notes in exchange for 1.7million shares of Class A common stock. The effect of the 1.7million incremental Class A common shares issuable upon a conversion of the Initial Notes is anti -dilutiveand as such, they have been excluded