Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 214

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 214
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1, 2023. Note 2. Unaudited Pro Forma Condensed Combined Balance Sheet Adjustments The pro forma adjustments included in the unaudited pro forma condensed combined balance sheet as of September 30, 2024 are as follows: a)Represents the reclassification of 4.8 million of Class A common shares subject to possible redemption to permanent equity, less 0.1million shares redeemed subsequent to September30, 2024, for a redemption amount of $1.2million, and assuming no further redemptions.

121 b)Reflects the recapitalization of Fold. Immediately prior to the recapitalization, as triggered by the Business Combination, Fold historical preferred shares and Simple Agreements for Future Equity (“SAFEs”) convert to Fold common shares, which, collectively with the Fold historical common shares, are exchanged for New Fold Common Shares and additional paid -in-capital. c)Reflects the reclassification of $52.0 million of cash and cash equivalents held in Emerald’s Trust Account that becomes available for transaction expenses, redemption of public shares, and the operating activities following the Business Combination, less 0.1million shares redeemed subsequent to September30, 2024, for a redemption amount of $1.2million, and assuming no further redemptions. d)Reflects the repayment of Emerald’s balances due to related parties at the Business Combination date. e)Reflects the repayment of Emerald’s promissory note of $0.6 million, net of an original issue discount of $0.4 million reduced by accumulated amortization during the nine months ended September 30, 2024 of $0.3 million, under its subscription agreement with Polar Multi -StrategyMaster Fund (“Polar”). This agreement stipulates the repayment to Polar of its Capital Contribution in cash or shares. This reflects a cash repayment of the Capital Contribution. f)Reflects the payment of Emerald’s deferred advisory fee due at the closing of the Business Combination. g)Reflects the accrual of Emerald and Fold transaction costs of $12.5 million, expected to be incurred related to the closing of the Business Combination. Transaction costs include direct and incremental costs, such as legal, third party advisory, investment banking, and other miscellaneous fees. Transaction costs previously incurred that are not direct and incremental to the transaction have been included within the historical statement of operations of Emerald and Fold. h)Reflects the gross cash proceeds from the December 2024 Initial Investor Financing of $20.0