Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 369

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 369
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 two business days prior to the consummation of the business combination including interest earned on the funds held in the Trust Account and not previously released to Emerald to pay its taxes, divided by the number of then outstanding public shares, subject to certain limitations. For illustrative purposes, based on funds in the Trust Account of approximately $51.3million on December31, 2024, the estimated per share redemption price would have been approximately $11.04. Emerald’s Sponsor, officers and directors have entered into a letter agreement, pursuant to which they have agreed to waive their redemption rights with respect to any shares of Emerald Common Stock held by them in connection with the completion of the Business Combination. Limitation on Redemption Upon Completion of the Business Combination Emerald’s certificate of incorporation provides that a public stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder is acting in concert or as a “group” (as defined under Section 13 of the Exchange Act), will be restricted from seeking redemption rights with respect to more than an aggregate of 20% of the shares sold in the IPO, which we refer to as the “Excess Shares.” Such restriction shall also be applicable affiliates of Emerald. This restriction will discourage stockholders from accumulating large blocks of shares, and subsequent attempts by such holders to use their ability to exercise their redemption rights against a Business Combination as a means to force Emerald or its management to purchase their shares at a significant premium to the then -currentmarket price or on other undesirable terms. Redemption of Public Shares and Liquidation if No Business Combination Emerald’s certificate of incorporation provides that it has until the Extension Deadline to complete the Business Combination. If Emerald is unable to complete the Business Combination within such allotted time period, it will: (i) cease all operations except for the purpose of winding up, (ii) redeem the public shares, at a per -shareprice, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to Emerald to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) subject to the approval of the remaining stockholders and the board of directors, dissolve and liquidate. There will be no redemption rights or