Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 403

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 403
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 as a member of the New Fold Board. Board Composition New Fold’s business and affairs will be organized under the direction of the New Fold Board. We anticipate that the New Fold Board will consist of seven members upon the consummation of the Business Combination. Dr. Kirkwood will serve as Chairman of the New Fold Board. The primary responsibilities of the New Fold Board will be to provide oversight, strategic guidance, counseling and direction to New Fold’s management. The New Fold Board will meet on a regular basis and additionally as required. 255 In accordance with the terms of the Proposed Charter, which will be effective upon the consummation of the Business Combination, the New Fold Board will be divided into three classes, Class I, Class II and Class III, with, only one class of directors being elected each year and each class serving a three -yearterm. There is no cumulative voting with respect to the election of directors, with the result that the holders of more than 50% of the shares voted for the election of directors can elect all of the directors. The New Fold Board will be divided into the following classes: •Class I, which we anticipate will consist of Mr.Young and Mr.Hohns, whose terms will expire at New Fold’s first annual meeting of stockholders to be held after the closing of Business Combination; •Class II, which we anticipate will consist of Dr. Kirkwood and Mr.Reeves, whose terms will expire at New Fold’s second annual meeting of stockholders to be held after the closing of Business Combination; and •Class III, which we anticipate will consist of Mr.Simha, Ms. Hill and Ms. Goldwasser, whose terms will expire at New Fold’s third annual meeting of stockholders to be held after the closing of Business Combination. At each annual meeting of stockholders to be held after the initial classification, the successors to directors whose terms then expire will be elected to serve from the time of election and qualification until the third annual meeting following their election and until their successors are duly elected and qualified, or their earlier resignation, removal, disqualification or death. This classification of the New Fold Board may have the effect of delaying or preventing changes in New Fold’s control or management. New Fold’s directors may be removed for cause by the affirmative vote of the holders of at least 662/3% of New Fold’s voting stock. Director Independence Based on information provided by each director concerning his or her background, employment and affiliations, upon the consummation of the Business Combination