Fold Holdings, Inc. (FLD): debt financing — Fold issues $46.3M convertible note at $12.50/share, secured by 500 bitcoin

Fold Holdings, Inc.

Convertible note of $46.3M to SATS Credit Fund LP, conversion price $12.50, maturity March 2030.
Note pays 7% interest quarterly in common stock; no cash payments; secured by 500 bitcoin.
Warrant for 925,590 shares at $15.00 exercise price; 750,000 shares and 25 bitcoin issued as upfront consideration.
Automatic conversion triggers at share price thresholds from $15 to $40; full conversion at $40.
Investor is affiliate of chairman Jonathan Kirkwood; he recused from board approval.

item 1.01 item 2.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Fold Holdings, Inc. incurred convertible notes of aggregate principal amount of approximately $46.3 million with SATS Credit Fund LP at interest at a rate of 7.0% per annum maturing March 6, 2030.

Instrument: convertible notes
Principal: aggregate principal amount of approximately $46.3 million
Counterparty: SATS Credit Fund LP
Rate: interest at a rate of 7.0% per annum
Maturity: March 6, 2030
Event: incurrence

Exact text from the filing

the Company issued to the Investor a convertible note (the “Note”) in the aggregate principal amount of approximately $46.3 million

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10 debt financings filed in the last 30 days. Browse all debt financings →

Fold Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-023298

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