---
schema_version: "secwatch.filing_event.v1"
accession: "0001013762-24-001152"
form_type: "8-K"
ticker: "FLD"
cik: "0001889123"
company_name: "Fold Holdings, Inc."
filed_at: "2024-07-25T23:59:59+00:00"
generated_at: "2026-05-31T16:23:01.431146+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# FTAC Emerald (EMLD) to merge with Fold in all-stock deal; $365M pre-money valuation with Bitcoin-linked earnout

## Summary
- FTAC Emerald (EMLD) will acquire Fold, Inc. via merger; consideration is all FTAC Class A common stock.
- Fold's pre-money equity value set at $365M; additional up to $54.75M if Bitcoin 60-day VWAP prior to close exceeds $90,000.
- Sponsors forfeit all warrants; ~5.3M founder shares subject to time/price-based restrictions; up to 1M forfeited if post-close raise <$50M.
- Closing conditions include HSR clearance, NASDAQ listing, stockholder approvals, and net tangible assets ≥ $5,000,001.
- Merger must close by Jan 24, 2026; sponsor and Fold stockholder support agreements in place.

## SEC filing metadata
- accession: 0001013762-24-001152
- form_type: 8-K
- ticker: FLD
- cik: 0001889123
- company_name: Fold Holdings, Inc.
- filed_at: 2024-07-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1889123/000101376224001152/0001013762-24-001152-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1889123/000101376224001152/ea0209951-8k425_ftac.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001013762-24-001152
- JSON: https://secwatch.observer/filing/0001013762-24-001152.json
- Plain text: https://secwatch.observer/filing/0001013762-24-001152.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.