Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 247

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 247
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 In arriving at its opinion, Northland did not draw, in isolation, conclusions from or with regard to any factor or analysis that it considered. Rather, Northland made its determination as to fairness on the basis of its experience and professional judgment after considering the results of all of the analyses. Emerald agreed to pay Northland a cash fee of $650,000, of which $50,000 was due immediately and $50,000 was due upon delivery of the fairness opinion and the remaining $550,000 is due at the Closing. In addition, Emerald has agreed to reimburse certain of Northland’s expenses related to its engagement and to indemnify Northland against certain liabilities that may arise from services provided in connection with rendering its opinion. Northland, as a customary part of its investment banking business, is continually engaged in performing financial analyses regarding businesses and their securities in connection with acquisitions, negotiated underwritings, competitive biddings, secondary distributions of listed and unlisted securities, private placements and other transactions for estate, corporate and other purposes. Stockholders are urged to review the section entitled “ Risk Factors — Risks Related to Fold’s Business and Industry” in this proxy statement/prospectus for a description of the risks relating to Fold’s business. Stockholders should also read the section entitled “ Cautionary Note Regarding Forward -looking Statements” in this proxy statement/prospectus for additional information regarding the risks inherent in forward -lookinginformation. Certain Unaudited Fold Prospective Financial Information Fold does not as a matter of general practice publicly disclose projections as to future revenues, performance, financial condition or other results, given, among other reasons, the uncertainty of realizing the underlying assumptions, nor does it undertake to do so in the future. However, Fold prepared and provided to Emerald certain internal, prospective unaudited financial information (the “original Fold projections”) in connection with Emerald’s evaluation of the Business Combination. Fold’s management prepared such financial information based on their judgment and assumptions regarding the future financial performance of Fold and estimates regarding future operational expenditure. In connection with Fold management’s preparation of the original Fold projections, Fold provided drafts of the original Fold projections to Emerald for review and Emerald’s management suggested certain modifications in the financial model underlying the forecasts. This process ultimately led to the development of the original Fold projections that were provided to the Emerald Board and Northland. The original Fold projections are included in this proxy statement/prospectus for consideration by Emerald stockholders in connection with the evaluation of the Business Combination because such information was considered, among other