Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 6

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 6
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 initial business combination. On December17, 2024, Emerald held a special meeting of stockholders (the “Third Extension Meeting”) pursuant to which its stockholders approved an amendment to Emerald’s second amended and restated certificate of incorporation (the “Third Charter Extension Amendment”) and Trust Agreement giving Emerald the right to extend the date by which it has to complete an initial business combination from December20, 2024 to December20, 2025. In order to finance transaction costs in connection with an initial business combination, the Sponsor or an affiliate of the Sponsor, or certain of Emerald’s officers and directors may, but are not obligated to, loan Emerald funds as may be required (“Working Capital Loans”). If Emerald completes an initial business combination, Emerald would repay the Working Capital Loans out of the proceeds of the Trust Account released to Emerald. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that an initial business combination does not close, Emerald may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. The Working Capital Loans are to be repaid upon consummation of a Business Combination, without interest. On January 13, 2023, the Sponsor and Emerald entered into a promissory note (the “Promissory Note”) pursuant to which the Sponsor agreed to loan Emerald up to $1,500,000. On October 16, 2023, the Promissory Note was amended to increase the aggregate principal amount from $1,500,000 to $3,000,000. The Promissory Note is non -interestbearing and all outstanding amounts under the Promissory Note will be due on the date on which Emerald consummates a business combination. If Emerald does not consummate a business combination, it may use a portion of any funds held outside the Trust Account to repay the Promissory Note; however, no proceeds from the Trust Account may be used for such repayment. If such funds are insufficient to repay the Promissory Note, the unpaid amounts would be forgiven. No portion of the amounts outstanding under the Promissory Note may be converted into units. As of September 30, 2024, there was $3,000,000 outstanding under the Promissory Note. ii On January 3, 2024, Emerald, the Sponsor and Emerald ESG Funding, LLC (“ESG Funding