Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 2049

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 16
Chunk 2049
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 the Units in the Public Offering contain a redemption feature which allows for the redemption of such public shares in connection
with the Company’s liquidation, if there is a stockholder vote or tender offer in connection with the Business Combination and in
connection with certain amendments to the Company’s certificate of incorporation. In accordance with the guidance in ASC Topic 480,
“Distinguishing Liabilities from Equity,” and with the SEC and its staff’s guidance on redeemable equity instruments,
which has been codified in ASC 480-10-S99, redemption provisions not solely within the control of the Company require common stock subject
to redemption to be classified outside of permanent deficit.

As of December 31, 2024 and 2023, the common stock
subject to possible redemption reflected on the balance sheets is reconciled in the following table:

    Class A common stock subject to possible redemption, December 31, 2022 
     253,814,255 
  
    Less: 

    Proceeds allocated to Public Warrants 
     (96,791,644)
  
    Plus: 

    Accretion of carrying value to redemption value 
     8,699,271 
  
    Class A common stock subject to possible redemption, December 31, 2023 
     165,721,882 
  
    Less: 

    Redemption of shares 
     (116,724,496)
  
    Plus: 

    Accretion of carrying value to redemption value 
     2,248,962 
  
    Class A common stock subject to possible redemption, December 31, 2024 
    $51,246,348 

NOTE 4. PRIVATE PLACEMENT

Simultaneously with the closing of the Public
Offering, the Sponsor purchased an aggregate of 890,000 Private Placement Units for a purchase price of $8,900,000, or $10.00 per unit,
in a private placement. Additionally, concurrently with the partial exercise of the over-allotment option by the underwriter, the Company
issued to the Sponsor 86,081 Private Placement Units at a price of $10.00 per Private Placement Unit for total proceeds of $860,810. Each
Private Placement Unit consists of one share of Class A common stock and one-half of one Warrant, with each whole warrant entitling the
holder thereof to purchase one share of Class A common stock for $11.50, subject to adjustment.

The Private Placement