Company: FLDDW
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001213900-25-068264
Chunk: 121

Company: Fold Holdings, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 121
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 remain subject to transfer restrictions until the earlier of (a) (x) in the event that Emerald and Fold raise $50 million or more as of the Closing, one year following the Closing, and (y) in the event that Emerald and Fold raise less than $50 million as of the Closing, two years following the Closing, or (b) the first date that the stock price exceeds $15.00 for 20 trading days of any consecutive 30 trading day period ending after the date that is 90 days after the Closing; and •one -thirdof the subject founder shares shall remain subject to transfer restrictions until the earlier of (a) ten years following the Closing or (b) the first date that the stock price exceeds $17.00 for 20 trading days of any consecutive 30 trading day period ending after the date that is 90 days after the Closing. In the event that Emerald and Fold raise less than $50.0 million from the date of the Merger Agreement through the second anniversary of the Closing, the Sponsors shall automatically forfeit, for no additional consideration, up to 1,000,000 subject founder shares, as described in the Sponsor Share Restriction Agreement. On February 14, 2025, the Company and the Sponsors entered into an amendment to the Sponsor Share Restriction Agreement to release 450,000 restricted shares of the Company from the price based lockup found therein. 68

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS AS OF DECEMBER 31, 2024

|                                                                          |     | Emerald      
 (Historical) |            |   |     | Fold, Inc.   
 (Historical) |             |   |     | Pro Forma   
 Transaction 
 Adjustments |            |   |     |    |     | Combined  
 Pro Forma |             |   |
|:-------------------------------------------------------------------------|:----|:-------------|-----------:|:--|:----|:-------------|------------:|:--|:----|:------------|-----------:|:--|:----|:---|:----|:----------|------------:|:--|
| Revenues, net                                                            |     | $            |          — |   |     | $            |  23,753,148 |   |     | $           |          — |   |     |    |     | $         |  23,753,148 |   |
| Operating expenses                                                       |