Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 186

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 186
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. The Merger Consideration that Fold stockholders will receive is primarily a fixed number of shares of Emerald Class A Common Stock; it is not a number of shares with a particular fixed market value. See the section entitled “ The Merger Agreement.” The market value of Emerald Class A Common Stock and Fold Capital Stock at the Closing may vary significantly from their respective values on the date the Merger Agreement was executed or at other dates, including the date on which Fold stockholders provide written consent to the adoption of the Merger Agreement and the transactions contemplated thereby. Because the Merger Consideration will not be adjusted to reflect any changes in the market value of shares of Emerald Class A Common Stock or Fold Capital Stock, the market value of the shares of Emerald Class A Common Stock issued in connection with the Business Combination and the Fold Capital Stock converted in connection with the Business Combination may be higher or lower than the values of those shares on earlier dates, and may be higher or lower than the value used to determine the Exchange Ratio. Accordingly, at the time of providing written consent to the Fold Business Combination Proposal, Fold stockholders will not know or be able to calculate the market value of the shares of Emerald Class A Common Stock they would receive upon the completion of the Business Combination. Stock price changes may result from a variety of factors, including changes in the business, operations or prospects of Emerald or Fold, regulatory considerations and general business, market, industry or economic conditions. Many of these factors are outside of the control of Emerald and Fold. Our Public Stockholders will experience immediate dilution due to the issuance of shares of Emerald Class A Common Stock to Fold stockholders in the Business Combination. Having a minority share position may reduce the influence that our current stockholders have on the management of New Fold. It is anticipated that, following the completion of the Business Combination (for illustrative purposes), Emerald’s existing stockholders, including our Sponsor, will retain an ownership interest in the range of 9.8%, 7.6% and 2.4% of New Fold under the minimum redemption, 25% redemption and maximum redemption scenarios, respectively, Fold stockholders will own an amount in the range of 70.5%, 72.3% and 76.4% of New Fold under the 100 minimum redemption, 25% redemption and maximum redemption scenarios, respectively. For a description of the assumptions used in the minimum redemption, 25% redemption and maximum redemption scenarios, please see the section entitled “ Questions and Answers About the Business