Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 188

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 188
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 Master
Fund (“Polar”) to cover working capital requirements of the Company. Pursuant to the terms and subject to the conditions of
the Subscription Agreement, Polar agreed to contribute up to $550,000 to ESG Funding (the “Polar Contribution”), which
amount was contributed in full as of April 2024. The Polar Contribution shall be repaid upon the closing of an initial business combination.
The Polar Contribution was non-interest bearing and shall be repaid to, and at the election of, Polar (i) in shares of
common stock, at a rate of 1.0 share for each ten dollars ($10.00) of the Polar Contribution funded as of the Closing or (ii) in
cash.

In consideration of the Polar
Contribution, we agreed to issue 1.0 share of Class A Common Stock for each dollar of the Polar Contribution funded as of or prior
to the Closing, which shares shall be subject to no transfer restrictions or any other lock-up provisions, earn outs, or other contingencies.
At December 31, 2024, $550,000 had been funded pursuant to the Polar Contribution, gross of the discount, under the Subscription Agreement.
At the Closing, Polar received 550,000 shares of Class A Common Stock and $550,000 and the Subscription Agreement was terminated.

Promissory Note — Related
Party

Prior to the closing of the initial
public offering, our sponsors loaned us $105,260 for expenses related to our formation and the initial public offering. The loan was non-interest
bearing, unsecured and due on the earlier of March 31, 2022 or the closing of the initial public offering. The outstanding balance under
the promissory note of $105,260 was repaid on December 27, 2021 and the promissory note was terminated and is no longer available to be
drawn upon.

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Related Party Loans

In order to finance transaction
costs in connection with an initial business combination, our sponsors or an affiliate of our sponsors or certain of our officers and
directors may, but are not obligated to, loan us funds as may be required. If we consummate an initial business combination, we would
repay such loaned amounts out of the proceeds of the trust account released to the Company. As of December 31, 2024, $3,000,000 of such
working capital loans were outstanding.

On January