---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-023298"
form_type: "8-K"
ticker: "FLD"
cik: "0001889123"
company_name: "Fold Holdings, Inc."
filed_at: "2025-03-12T23:59:59+00:00"
generated_at: "2026-05-24T22:46:13.868174+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Fold issues $46.3M convertible note at $12.50/share, secured by 500 bitcoin

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-25-023298
- form_type: 8-K
- ticker: FLD
- cik: 0001889123
- company_name: Fold Holdings, Inc.
- filed_at: 2025-03-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1889123/000121390025023298/0001213900-25-023298-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1889123/000121390025023298/ea0234072-8k_foldhold.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-023298
- JSON: https://secwatch.observer/filing/0001213900-25-023298.json
- Plain text: https://secwatch.observer/filing/0001213900-25-023298.txt

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