FTAC Emerald secures up to $2M promissory note from sponsor affiliate, $65K drawn

Fold Holdings, Inc.

Non-interest-bearing note from Frontier SPV, LLC (affiliate of sponsor) with $2M maximum principal.
Initial draw of $65,000 on October 25, 2024; entire principal due upon consummation of initial business combination.
If no business combination occurs, repayment is limited to funds outside trust; unpaid balance is forgiven.
Note holders waive all claims against trust account; no conversion into equity or warrants.
Loan supports working capital while SPAC pursues proposed merger with Fold, Inc.

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