Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 862

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 862
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 Stock on the Trading Day immediately preceding the public announcement of the execution of definitive documents with respect to the issuance of such Option, Convertible Security or Adjustment Right (as the case may be), (ii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining term of such Option, Convertible Security or Adjustment Right (as the case may be) as of the date of issuance of such Option, Convertible Security or Adjustment Right (as the case may be), (iii) a zero cost of borrow and (iv) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the “HVT” function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading Day immediately following the date of issuance of such Option, Convertible Security or Adjustment Right (as the case may be). (p)“ Bloomberg ” means Bloomberg, L.P. (q)“ Business Combination ” shall have the meaning as set forth in the Securities Purchase Agreement. (r)“ Business Combination Closing Date ” shall have the meaning as set forth in the Securities Purchase Agreement. (s)“ Business Combination Closing Date Minimum Liquidity Test ” shall mean the requirement that the Company have at least $13,000,000 (as may be reduced pursuant to the last proviso hereof, the “ Test Level ”) in the aggregate of the sum of (i) cash and cash equivalents, (ii) accounts receivable (to the extent less than 30 days aging) and (iii) cash float to support product programs including any bitcoin gift cards, bitcoin rewards conversions, and bitcoin exchange products; provided, that the total amounts in aggregate under (iii) shall not exceed $10,000,000, and such amounts shall not be used to offset any existing liability; provided, further, that the Test Level shall be reduced by the total of the product of (x) $750,000 and (y) the number of months (or, for any partial month as of such date of determination, prorated for such partial month) that have elapsed between the Initial Closing Date and the date of the Business Combination Closing Date. (t)“ Business Day ” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or required by law to remain closed; provided , however , for clarification, commercial banks shall not be deemed to be authorized or required by law to remain closed due to