Company: FLDDW
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001213900-25-068264
Chunk: 288

Company: Fold Holdings, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 288
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1, the Company consummated its Public Offering of 22,000,000units (the “Units” and, with respect to the Class A common stock included in the Units being offered, the “public shares”) at $ 10.00per Unit, which is discussed in Note 3, and the sale of 890,000placement units (the “Private Placement Units”) at a price of $ 10.00per Private Placement Unit in a private placement to the Sponsor, which is discussed in Note 4 (“Private Placement”). The underwriter of the Company’s IPO subsequently provided notice of its election to partially exercise its over -allotmentoption, and the closing of the issuance and sale of the additional Units (the “Over -AllotmentOption Units”) occurred on January 14, 2022. A total aggregate issuance by the Company of 2,869,342Over -AllotmentOption Units at a price of $ 10.00per Over -AllotmentOption Unit resulted in total gross proceeds of $ 28,693,420to the Company. Simultaneously with the issuance and sale of the Over -AllotmentOption Units, the Company consummated the private sale of an additional 86,081Private Placement Units (the “Additional Private Placement Units”) at a price of $ 10.00per Additional Private Placement Unit to the Sponsor, generating gross proceeds of $ 860,810. Transaction costs related to the Public Offering and over -allotmentamounted to $ 14,181,568, consisting of $ 4,973,868of underwriting commissions, $ 8,704,270in deferred underwriting fees, and $ 503,430of other offering costs. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All significant balances and transactions have been eliminated in consolidation. Liquidity and Going Concern As of December 31, 2024, the Company had $ 906,043in cash and a working capital deficit of $ 8,366,213. Prior to the completion of the Public Offering, the Company’s liquidity needs had been satisfied through a capital contribution from the Sponsor of $ 25,000and a loan to the Company of up to $ 300,000by the Company’s Sponsor under an unsecured promissory note. The outstanding balance under the promissory note of $ 105,260was repaid on F-38 FOLD HOLD