secwatch.observer — SEC 8-K summary
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Issuer:     Fold Holdings, Inc. (FLD)
CIK:        0001889123
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001013762-24-001152
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1889123/000101376224001152/0001013762-24-001152-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1889123/000101376224001152/ea0209951-8k425_ftac.htm
  HTML page:      https://secwatch.observer/filing/0001013762-24-001152

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer