Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 217

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 217
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. 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 from the earnings (loss) per share calculation. 123

In connection with the closing of the Business Combination, 0.5 million of outstanding Sponsor warrants will be forfeited and cancelled, and a total of 5.3 million of Sponsor Restricted Shares will be issued, subject to the restrictions as described in the section Sponsor Share Restriction Agreementabove. These shares are included in the earnings (loss) per share calculation.

|                                                                            |     |             | For the nine months ended 
        September 30, 2024 |   |     |             |            |   |     |             |            |   |     |             | For the year ended 
  December 31, 2023 |   |     |             |            |   |     |             |            |   |
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