Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 250

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 250
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|:----------------|:----|:------|-----:|:----|:------|-----:|:----|:--------------|-----:|
| Revenue         |     | $     | 27.1 |     | $     | 72.5 |     | $             | 42.0 |

144 Updated Fold Projections Subsequent to providing the original Fold projections to Emerald, Fold management engaged external accounting advisors to review Fold’s accounting policies in preparation for financial statement audits. As a result of that engagement, various accounting adjustments were made to comply with PCAOB accounting standards. The Fold Financial Statements reflected in this proxy statement/prospectus were prepared using the updated accounting policies. Fold management also updated the original Fold projections to align with the updated accounting policies (the “updated Fold projections”). The updated Fold projections therefore reflect lower revenues for forecasted periods as compared with the original Fold projections. The differences for the relevant periods are as follows: projected Fold revenues for the calendar year ending December 31, 2024 decreased from $27.1 million to $24.0 million; projected Fold revenues for the calendar year ending December 31, 2025 decreased from $72.5 million to $61.6 million; and projected Fold revenues for the twelve months ending June 30, 2025 decreased from $42.0 million to $36.4 million. Any variation between the updated Fold projections included in this proxy statement/prospectus and the original Fold projections provided to Emerald in connection with its evaluation of the Business Combination is solely attributable to the referenced changes in accounting policies, no other factors underlying the original Fold projections or the Fold projections included in this proxy statement/prospectus have changed. References to projected financial information in this section are to the updated Fold projections unless otherwise specified. In light of the fact that Fold is an emerging growth company and the Fold projections are not supported by a sufficiently long operating history, the Emerald Board did not rely solely upon the Fold projections in recommending the Transaction to its stockholders and did not consider the projections a determinative factor in approving Emerald’s execution of the Merger Agreement.The inclusion of the information included in this section should not be regarded as an indication that Fold, Emerald, their respective affiliates, officers, directors, advisors or other representatives or any other recipient of this information considered — or now considers — it to be necessarily predictive of actual future results or that it should be construed as financial guidance and it should not be relied on as such. The prospective unaudited financial information is subjective