secwatch.observer — SEC 8-K summary
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Issuer:     Fold Holdings, Inc. (FLD)
CIK:        0001889123
Form:       8-K
Filed at:   2024-10-25T23:59:59+00:00
Accession:  0001213900-24-090808
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1889123/000121390024090808/0001213900-24-090808-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1889123/000121390024090808/ea0218679-8k425_ftac.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-090808

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