According to the prospectus, on July 24, 2024, FTAC Emerald Acquisition Corp. and Fold Inc. announced that they had signed a merger plan agreement. According to the agreement, among other things, the merged subsidiary will merge with Fold to become Fold. It is expected that the merged company will be listed on NASDAQ. The transaction is expected to be completed in the fourth quarter of 2024. Prior to completing the business merger with Fold, stock codes FLD, FLDDU, and FLDDW will respectively represent the Class A common stock, units, and warrants of the special purpose acquisition company FTAC Emerald.

This transaction means that Fold's pre financing equity valuation is $365 million. It is expected that Fold's consolidated balance sheet will have over 1000 BTC after the transaction. Fold is expected to use this revenue to accelerate the growth of its business and finances. Existing Fold shareholders will be locked in for six months, and if the merged company's stock price exceeds $12.00 per share for any consecutive 30 trading days ending at least 90 days after closing, it can be released early. After the proposed transaction is completed, the Fold management team led by Reeves will continue to operate and manage Fold.

Fold was founded in 2019 and is a leading Bitcoin financial services company dedicated to expanding Bitcoin investment opportunities through high-quality financial products. By integrating Bitcoin into traditional financial services, Fold aims to enable more people to achieve the American Dream. Since its establishment in 2019, Fold has processed over $2 billion in transaction volume and distributed over $45 million in lifetime Bitcoin rewards to customers.

FTAC Emerald is a special purpose M&A company sponsored by Cohen Circle, established for the purpose of merging, capital stock exchange, asset acquisition, stock purchase, restructuring, or similar business combinations with one or more core companies dedicated to providing social, financial, and/or environmental value.

Will Reeves, CEO of Fold, stated, "This transaction marks an important step for Fold in expanding the coverage of high-quality Bitcoin financial services and helping individuals achieve their dreams. Fold aims to make Bitcoin accessible to everyone - through accessible, attractive, and useful Bitcoin products tailored to meet the needs of consumers, income earners, and depositors

We are pleased to collaborate with Will and his team to bring Fold to the public market, "said Bracebridge Young, Jr., President and CEO of FTAC Emerald. Fold links its success to the success of its customers, democratizing wealth accumulation through innovative Bitcoin financial services, and gaining an increasing share of wallets as the preferred Bitcoin savings tool

SPAC (Special Purpose Acquisition Company), literally translated as: A special purpose acquisition company, is usually initiated and established by institutions or individuals in the industry with sufficient capital strength, resources, and operational capabilities in the US stock market. They have a relatively good reputation guarantee and the market is more likely to "buy" the initiator's resume. SPAC companies typically need to find a target industry acquisition partner (usually a non listed company with high growth prospects) and complete the merger within two years. After the merger is successful, the "merged new company" can be listed on the main board of the New York Stock Exchange/NASDAQ and undergo secondary financing and trading, which can help the company obtain huge financing and substantial returns.

Since 2009, the Small and Medium sized Enterprises Overseas Listing Capital Group has been using SPAC listing to help Asian small and medium-sized enterprises go public overseas. With 15 years of mature experience, we are committed to helping more high-quality and promising small and medium-sized enterprises go public overseas. We look forward to working with you!