---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-002836"
form_type: "8-K"
ticker: "FLD"
cik: "0001889123"
company_name: "Fold Holdings, Inc."
filed_at: "2023-01-13T23:59:59+00:00"
generated_at: "2026-06-20T15:36:20.770604+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# FTAC Emerald issues $1.5M promissory note to sponsor; $350K drawn immediately

## Summary
- Note from FTAC Emerald to sponsor Emerald ESG Sponsor, LLC for up to $1,500,000.
- Initial draw of $350,000 on Jan 13, 2023; note is non-interest bearing.
- Principal due upon consummation of a business combination; forgiven if no deal and trust funds insufficient.
- Sponsor waives all claims against the IPO trust account per the trust waiver clause.
- Proceeds intended for working capital before initial business combination.

## SEC filing metadata
- accession: 0001213900-23-002836
- form_type: 8-K
- ticker: FLD
- cik: 0001889123
- company_name: Fold Holdings, Inc.
- filed_at: 2023-01-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1889123/000121390023002836/0001213900-23-002836-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1889123/000121390023002836/ea171654-8k_ftacemerald.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-002836
- JSON: https://secwatch.observer/filing/0001213900-23-002836.json
- Plain text: https://secwatch.observer/filing/0001213900-23-002836.txt

## Key facts
- Debt Financings
  Fold Holdings, Inc. incurred loan of up to an aggregate principal amount of $1,500,000 with Emerald ESG Sponsor, LLC at non-interest bearing maturing the date on which we consummate a business combination.
  - Instrument: loan
  - Principal: up to an aggregate principal amount of $1,500,000
  - Counterparty: Emerald ESG Sponsor, LLC
  - Rate: non-interest bearing
  - Maturity: the date on which we consummate a business combination
  - Event: incurrence
  source text: to Emerald ESG Sponsor, LLC (the “Lender”), one of the Company’s sponsors. Pursuant to the Promissory Note, the Lender agreed to loan us up to an aggregate principal amount of $1,500,000. The Promissory Note is non-interest bearing and all outstanding amounts under the Promissory Note will be due on the date on which we consummate a business combination (the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1889123/000121390023002836/0001213900-23-002836-index.htm
- Material Agreements
  Fold Holdings, Inc. entered into Promissory Note with Emerald ESG Sponsor, LLC valued at $1,500,000 (effective 2023-01-13).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Emerald ESG Sponsor, LLC
  - Value: $1,500,000
  - Effective: 2023-01-13
  source text: On January 13, 2023, FTAC Emerald Acquisition Corp. (“we,” “us” or the “Company”) issued a promissory note (the “Promissory Note”) to Emerald ESG Sponsor, LLC (the “Lender”), one of the Company’s sponsors. Pursuant to the Promissory Note, the Lender agreed to loan us up to an aggregate principal amount of $1,500,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1889123/000121390023002836/0001213900-23-002836-index.htm

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