secwatch.observer — SEC 8-K summary
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Issuer:     Fold Holdings, Inc. (FLD)
CIK:        0001889123
Form:       8-K
Filed at:   2025-03-12T23:59:59+00:00
Accession:  0001213900-25-023298
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1889123/000121390025023298/0001213900-25-023298-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1889123/000121390025023298/ea0234072-8k_foldhold.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-023298

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