Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 428

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 428
---
 for each dollar of the Polar Contribution funded as of the date of such default, and for each month thereafter until such default is cured, subject to certain limitations provided for therein. At September 30, 2024, $550,000 had been funded pursuant to the Polar Contribution, gross of the discount, under the Subscription Agreement. Assuming Polar elects to settle the Polar Contribution in cash and no events of default under the Subscription Agreement, Polar will receive 550,000shares of Emerald Class A Common Stock and $550,000 in cash in connection with the Closing. On October25, 2024, Emerald issued a promissory note (the “October Note”) to Frontier SPV, LLC (“Frontier”), an affiliate of the Sponsor. Pursuant to the October Note, Frontier agreed to loan Emerald up to an aggregate principal amount of $2,000,000. The October Note is non -interestbearing and all outstanding amounts under the October Note will be due on the date on which Emerald consummates a business combination. If Emerald does not consummate a business combination, Emerald may use a portion of any funds held outside the Trust Account to repay the October Note; however, no proceeds from the Trust Account may be used for such repayment. If such funds are insufficient to repay the October Note, the unpaid amounts would be forgiven. No portion of the amounts outstanding under the October Note may be converted into units or shares. On October25, 2024, Emerald borrowed $65,000 under the October Note. On October31, 2024, Emerald issued a promissory note (the “Tax Note”) to Frontier. Pursuant to the Tax Note, Frontier agreed to loan Emerald an aggregate principal amount of $973,116.44, which was used to satisfy Emerald’s excise tax liability. The Tax Note is non -interestbearing and all outstanding amounts under the Tax Note will be due on the date on which Emerald consummates a business combination. If Emerald does not consummate a business combination, Emerald may use a portion of any funds held outside the Trust Account to repay the Tax Note; however, no proceeds from the Trust Account may be used for such repayment. If such funds are insufficient to repay the Tax Note, the unpaid amounts would be forgiven. No portion of the amounts outstanding under the Tax Note may be converted into units or shares. On October31, 2024, Emerald borrowed the full amount under the Tax Note. Senior Secured Convertible Note & Investor Warrant Financing Securities New Fold Senior