secwatch.observer — SEC 8-K summary
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Issuer:     Fold Holdings, Inc. (FLD)
CIK:        0001889123
Form:       8-K
Filed at:   2023-01-13T23:59:59+00:00
Accession:  0001213900-23-002836
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1889123/000121390023002836/0001213900-23-002836-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1889123/000121390023002836/ea171654-8k_ftacemerald.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-002836

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