Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 211

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 211
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 and for the periods of these unaudited pro forma condensed combined financial statements. The pro forma basic and diluted earnings per share amounts presented in the unaudited pro forma condensed combined statements of operations are based upon the number of Emerald’s common shares outstanding, assuming the Business Combination and related transactions occurred on January 1, 2023. Note 2. Unaudited Pro Forma Condensed Combined Balance Sheet Adjustments The pro forma adjustments included in the unaudited pro forma condensed combined balance sheet as of September 30, 2024 are as follows: a)Represents the reclassification of 4.8 million of Class A common shares subject to possible redemption to permanent equity, less 0.1million shares redeemed subsequent to September30, 2024, for a redemption amount of $1.2million, and assuming no further redemptions. b)Reflects the recapitalization of Fold. Immediately prior to the recapitalization, as triggered by the Business Combination, Fold historical preferred shares and Simple Agreements for Future Equity (“SAFEs”) convert to Fold common shares, which, collectively with the Fold historical common shares, are exchanged for New Fold Common Shares and additional paid -in -capital.

121 c)Reflects the reclassification of $52.0 million of cash and cash equivalents held in Emerald’s Trust Account that becomes available for transaction expenses, redemption of public shares, and the operating activities following the Business Combination, less 0.1million shares redeemed subsequent to September30, 2024, for a redemption amount of $1.2million, and assuming no further redemptions. d)Reflects the repayment of Emerald’s balances due to related parties at the Business Combination date. e)Reflects the repayment of Emerald’s promissory note of $0.6 million, net of an original issue discount of $0.4 million reduced by accumulated amortization during the nine months ended September 30, 2024 of $0.3 million, under its subscription agreement with Polar Multi -StrategyMaster Fund (“Polar”). This agreement stipulates the repayment to Polar of its Capital Contribution in cash or shares. This reflects a cash repayment of the Capital Contribution. f)Reflects the payment of Emerald’s deferred advisory fee due at the closing of the Business Combination. g)Reflects the accrual of Emerald and Fold transaction costs of $12.5 million, expected to be incurred related to the closing of the Business Combination. Transaction costs include direct and incremental costs, such as