Company: FLDDW
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001213900-25-068264
Chunk: 125

Company: Fold Holdings, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 125
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 income. g)Represents the recognition of $5.2 million of interest expense, including amortization of the estimated debt discount and debt issuance costs, into interest expense related to the December 2024 Initial Investor Financing for the year ended December 31, 2024. h)Represents the recognition of $1.1 million of additional incremental compensation expense related to certain employment agreements for the post -closingentity for the year ended December 31, 2024. 71

Note 4. Earnings (Loss) Per Share Pro Forma Weighted Average Shares (Basic and Diluted) The following pro forma weighted average shares calculations have been performed for the year ended December 31, 2024. The unaudited condensed combined pro forma earnings (loss) per share (“EPS”), basic and diluted, are computed by dividing earnings or loss by the weighted -averagenumber of shares of common stock outstanding during the period. Prior to the Business Combination, Emerald had Class A common stock, Class B common stock, and preferred stock authorized to be issued. There were not any Class B common shares or preferred shares issued or outstanding as of December 31, 2024. In connection with the closing of the Business Combination, each currently issued and outstanding Emerald Class A common share automatically converted on a one -for-onebasis, into New Fold Class A common shares. Each currently issued and outstanding Emerald Class A common share were thereafter renamed, and will have the rights and restrictions attached to the, New Fold Class A common shares. As of December 31, 2024 Emerald had 12.4 million Public Warrants and 0.5 million Private Warrants issued and outstanding. In connection with the Business Combination, Emerald forfeited 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 0.9 million Series A and 0.9 million 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 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 1.7 million shares of Class A