UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or Section 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 11, 2025
FTAC EMERALD ACQUISITION CORP.
(Exact name of registrant as specified in its charter)
Delaware |
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001-41168 |
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86-2170416 |
(State or other jurisdiction of
incorporation or organization) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification Number) |
2929 Arch Street, Suite 1703
Philadelphia, PA |
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19104 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number,
including area code: (215) 701-9555
Not Applicable
(Former name or former address,
if changed since last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☒ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
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Name of each exchange on which registered |
Units, each consisting of one share of Class A common stock and one-half of one redeemable warrant |
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FLDDU |
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Pink Open Market |
Class A common stock, par value $0.0001 per share |
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FLDD |
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OTCQB Venture Market |
Redeemable warrants, each whole warrant exercisable for one share of Class A common stock |
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FLDDW |
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OTCQB Venture Market |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
As previously announced,
on July 24, 2024, FTAC Emerald Acquisition Corp. (the “Company” or “FTAC Emerald”) and Fold, Inc.
(“Fold”) announced that they have entered into an Agreement and Plan of Merger (the “Merger Agreement”)
by and among the Company, EMLD Merger Sub Inc., a wholly-owned subsidiary of the Company (“Merger Sub”), and Fold,
pursuant to which, among other things, Merger Sub will be merged with and into Fold with Fold surviving the merger as a wholly-owned subsidiary
of the Company (the “Merger” and, together with the other transactions contemplated by the Merger Agreement, the “Transactions”).
On February 11, 2025,
the Company announced that the special meeting in lieu of annual meeting of stockholders (the “Meeting”) scheduled
to be held on February 12, 2025 at 11:00 am Eastern Time will be postponed until 11:30 am Eastern Time on Thursday, February
13, 2025. There is no change to the location, record date, purpose or any of the proposals to be acted upon at the Meeting. A copy of
the press release announcing the postponement of the Meeting is attached hereto as Exhibit 99.1.
The Meeting is being held
for the purposes of considering and voting on, among other things, the Merger Agreement and the Transactions (collectively, the “Proposals”),
each as described in the Company’s definitive proxy statement/prospectus filed with the Securities and Exchange Commission (“SEC”)
on January 24, 2025.
The information in this
Item 8.01 (including Exhibit 99.1) is being furnished and shall not be deemed to be filed for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, or otherwise be subject to the liabilities of that section, nor shall it be deemed to be incorporated
by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
Important Information About the Proposed Business
Combination and Where to Find It
In
connection with the Transactions, parties have filed a registration statement on Form S-4 with the SEC, which was declared effective by
the SEC on January 23, 2025 and includes a document that serves as a prospectus and proxy statement of FTAC Emerald, referred to as a
proxy statement/prospectus. FTAC Emerald has mailed a proxy statement/prospectus to all FTAC Emerald stockholders as of the record date
established for voting on the Transactions and the other matters to be voted upon at a meeting of FTAC Emerald’s stockholders to
be held to approve the Transactions and such other matters. FTAC Emerald also will file other documents regarding the proposed transaction
with the SEC. Before making any voting decision, investors and security holders of FTAC Emerald are urged to read the registration statement,
the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed
transaction as they become available because they will contain important information about the proposed transaction.
Investors
and security holders can obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents
filed or that will be filed with the SEC by FTAC Emerald through the website maintained by the SEC at www.sec.gov. Alternatively, these
documents can be obtained free of charge by directing a request to: FTAC Emerald Acquisition Corp., 2929 Arch Street, Suite 1703, Philadelphia,
PA 19104, or by emailing info@cohencircle.com.
No Offer or Solicitation
This
communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote
or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would
be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.
Forward-Looking Statements
The
information in this current report on Form 8-K includes “forward-looking statements” within the meaning of the federal securities
laws with respect to the proposed transaction between Fold and FTAC Emerald. Forward-looking statements may be identified by the use of
words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,”
“expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions
that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include,
but are not limited to, statements regarding estimates and forecasts regarding Fold’s business, net proceeds from the proposed transaction,
potential benefits of the proposed transaction and the potential success of Fold’s market and growth strategies, and expectations
related to the terms and timing of the proposed transaction. These statements are based on various assumptions and on the current expectations
of FTAC Emerald and Fold’s management and are not predictions of actual performance. These forward-looking statements are provided
for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance,
a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict
and will differ from assumptions. Many actual events and circumstances are beyond the control of FTAC Emerald and Fold. These forward-looking
statements are subject to a number of risks and uncertainties, including: (i) the risk that the proposed transaction may not be completed
in a timely manner or at all; (ii) the risk that the proposed transaction may not be completed by FTAC Emerald ’s business combination
deadline and the potential failure to obtain an extension of the business combination deadline; (iii) the failure to satisfy the conditions
to the consummation of the proposed transaction, including the approval of the proposed transaction by the stockholders of FTAC Emerald; (iv)
the failure to realize the anticipated benefits of the proposed transaction; (v) the effect of the announcement or pendency of the
proposed transaction on Fold’s business relationships, performance, and business generally; (vi) the outcome of any legal proceedings
that may be instituted against FTAC Emerald or Fold related to the business combination agreement or the proposed transaction; (vii) the
ability to list the combined company’s securities on NASDAQ; (viii) the ability to address the market opportunity for Fold’s
products and services; (ix) the risk that the proposed transaction may not generate the expected net proceeds for the combined company;
(x) the ability to implement business plans and other expectations after the completion of the proposed transaction, and identify and
realize additional opportunities; (xi) the occurrence of any event, change or other circumstance that could give rise to the termination
of the business combination agreement; (xii) the risk of downturns, new entrants and a changing regulatory landscape in the highly competitive
industry in which Fold operates; and (xiii) those factors discussed in FTAC Emerald’s filings with the SEC under the heading “Risk
Factors,” and other documents of FTAC Emerald filed, or to be filed, with the SEC. If any of these risks materialize or Fold’s
assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There
may be additional risks that neither FTAC Emerald nor Fold presently know or that FTAC Emerald and Fold currently believe are immaterial
that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements
reflect FTAC Emerald’s and Fold’s expectations, plans or forecasts of future events and views as of the date of this report.
While FTAC Emerald and Fold may elect to update these forward-looking statements at some point in the future, each specifically disclaims
any obligation to do so. These forward-looking statements should not be relied upon as representing FTAC Emerald’s and Fold’s
assessments as of any date subsequent to the date of this press report. Accordingly, undue reliance should not be placed upon the forward-looking
statements.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. |
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Description |
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99.1 |
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Press Release |
104 |
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Cover Page Interactive Data File (embedded within the
Inline XBRL document). |
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: February 11, 2025 |
FTAC EMERALD ACQUISITION CORP. |
|
|
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By: |
/s/ Bracebridge H. Young, Jr. |
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Name: |
Bracebridge H. Young, Jr. |
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Title: |
President and Chief Executive Officer |
Exhibit 99.1
Fold, Inc. and FTAC Emerald Acquisition Corp.
Announce New Date for Special Meeting to Approve Business Combination
February 11 - NEW YORK - Fold, Inc. (“Fold”), a
pioneering bitcoin financial services company, and FTAC Emerald Acquisition Corp (OTC: FLDD) (“FTAC”), today announced they
have rescheduled the special meeting of FTAC’s stockholders (the “Special Meeting”) to February 13, 2025 to vote on
proposals relating to the proposed business combination (the “Business Combination”). FTAC has mailed to its a definitive
Proxy Statement/Prospectus relating to the Business Combination and Special Meeting. The Business Combination is expected to close shortly
after the Special Meeting, subject to stockholder approvals and satisfaction of other customary closing conditions. Upon closing, the
combined company will be renamed “Fold Holdings, Inc.” and its common stock and warrants are expected to begin trading on
Nasdaq under the ticker symbols “FLD” and “FLDDW,” respectively.
Meeting Details
More information about voting and attending the Special Meeting is
included in the definitive Proxy Statement/Prospectus filed by FTAC with the SEC, which is available on the SEC’s website at www.sec.gov.
FTAC encourages stockholders to read the Proxy Statement/Prospectus carefully. The deadline for FTAC’s public stockholders to exercise
their redemption rights in connection with the Business Combination was February 10, 2025 at 12:00 p.m. ET. If you have any questions
or need assistance voting your shares, please contact FTAC’s proxy solicitor, Sodali & Co, at (800) 662-5200; banks and brokers
can call collect at (203) 658-9400.
The FTAC board of directors recommends all stockholders vote “FOR”
ALL PROPOSALS in advance of the Special Meeting via the Internet or by signing, dating and returning the proxy card upon receipt by following
the instructions on the proxy card.
About Fold
Founded in 2019, Fold is a leading bitcoin financial services company
dedicated to expanding access to bitcoin investment opportunities through premium financial products. By integrating bitcoin into everyday
financial services, Fold aims to make the American Dream available to more people. For more information, visit https://foldapp.com/investors.
About FTAC Emerald Acquisition Corp.
FTAC Emerald is a special purpose acquisition company sponsored by
Cohen Circle and formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses with a core commitment to providing social, financial, and/or environmental
value.
Important Information About the Business Combination and Where to
Find It
This document relates to a proposed transaction between Fold and FTAC.
This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor
shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction. The parties have filed a registration statement on Form S-4 with
the SEC, which includes a document that serves as a prospectus and proxy statement of FTAC, referred to as a proxy statement/prospectus.
A proxy statement/prospectus will be sent to all FTAC stockholders. FTAC also will file other documents regarding the proposed transaction
with the SEC. Before making any voting decision, investors and security holders of FTAC are urged to read the registration statement,
the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed
transaction as they become available because they will contain important information about the proposed transaction.
Investors and security holders are able to obtain free copies of the
registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by FTAC
through the website maintained by the SEC at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge
by directing a request to: FTAC Emerald Acquisition Corp., 2929 Arch Street, Suite 1703, Philadelphia, PA 19104.
Participants in the Solicitation
Fold and FTAC and their respective directors and executive officers
may be deemed to be participants in the solicitation of proxies from FTAC’s stockholders in connection with the proposed transaction.
A list of the names of the respective directors and executive officers of Fold and FTAC and information regarding their interests in the
business combination is contained in the proxy statement/prospectus. You may obtain free copies of these documents as described in the
preceding paragraph.
Forward-Looking Statements
The information in this press release includes “forward-looking
statements” within the meaning of the federal securities laws with respect to the Business Combination. Forward-looking statements
may be identified by the use of words such as “may,” “could,” “would,” “should,” “predict,”
“estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,”
“anticipate,” “believe,” “seek,” “target,” “potential,” “continue,”
“ongoing” or the negative or plural of these words, or other similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements
regarding estimates and forecasts regarding Fold’s business, net proceeds from the Business Combination, potential benefits of the
Business Combination and the potential success of Fold’s market and growth strategies, and expectations related to the terms and
timing of the Business Combination. These statements are based on various assumptions and on the current expectations of FTAC and Fold’s
management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only
and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive
statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions.
Many actual events and circumstances are beyond the control of FTAC and Fold. These forward-looking statements are subject to a number
of risks and uncertainties, including: (i) changes in domestic and foreign business, market, financial, political and legal conditions;
(ii) the failure to realize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition,
the ability of the combined company to grow and manage growth profitably, maintain relationships with customers, providers and business
partners and retain its management and key employees; (iii) the effect of the consummation of the Business Combination on Fold’s
business relationships, performance, and business generally; (iv) the outcome of any legal proceedings that may be instituted against
FTAC or Fold related to the Business Combination; (v) the ability to meet Nasdaq listing standards following the consummation of the Business
Combination; (vi) the ability to address the market opportunity for Fold’s products and services; (vii) the costs related to
the Business Combination and risk that the Business Combination may not generate the expected net proceeds for the combined company; (viii)
the ability to implement business plans and other expectations after the completion of the Business Combination, and identify and realize
additional opportunities; (ix) the risk of downturns, new entrants and a changing regulatory landscape in the highly competitive industry
in which Fold operates; and (x) those factors discussed in FTAC’s filings with the SEC, including the proxy statement/prospectus
filed on January 24, 2025 related to the Business Combination, under the heading “Risk Factors,” and other documents of FTAC
filed, or to be filed, with the SEC. If any of these risks materialize or Fold’s assumptions prove incorrect, actual results could
differ materially from the results implied by these forward-looking statements. There may be additional risks that neither FTAC nor Fold
presently know or that FTAC and Fold currently believe are immaterial that could also cause actual results to differ from those contained
in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward-looking
statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved.
In addition, forward-looking statements reflect FTAC’s and Fold’s expectations, plans or forecasts of future events and views
as of the date of this press release. While FTAC and Fold may elect to update these forward-looking statements at some point in the future,
each specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing FTAC’s
and Fold’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed
upon the forward-looking statements.
Investor and Media Contacts
Fold@icrinc.com
FTAC Emerald: info@cohencircle.com
Fold (NASDAQ:FLDDW)
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