This filing was filed on October 7, 2024, and is a follow-up to disclosures made in July 2024, when Fold first announced plans to go public by merging with FTAC Emerald Acquisition.

An S-4 filing is a formal notification made by a public company when it is going through a merger or acquisition. This filing indicates that if Fold’s merger is approved, it will continue to trade on Nasdaq under its new ticker symbol FLD.

The registration statement names Emerald as the registrant and Fold as the joint registrant. This situation reveals that the merger will have important consequences both strategically and financially.

According to Fold’s statement, “The Merger Subsidiary will be merged with Fold, and Fold will continue the merger as a wholly owned subsidiary of Emerald.” These statements provide important information about the structuring of the merger and the future position of the company.

In July 2024, it was noted that Fold had entered into a merger agreement with FTAC Emerald Acquisition at a preliminary valuation of $365 million.

Fold currently holds more than 1,000 Bitcoins on its balance sheet. Funds obtained from the merger will be used to strengthen the company’s operations and treasury management. Thus, Fold’s growth strategies will be even stronger.

Founded by William Reeves, Matthew Luongo and Corbin Pon in 2019, Fold received a total investment of $ 20.2 million from 28 investors, according to PitchBook. The company offers its users the opportunity to earn Bitcoin rewards via debit card.

This system works in a similar structure to traditional credit card cashback applications and allows users to get some of their spending back in Bitcoin. As of today, Fold has 574,000 active accounts.

In 2020, Fold collaborated with Visa to introduce a new card that allows users to get 1% to 2% of their payments back in Bitcoin. This innovation is part of Fold’s efforts to expand its customer base and make Bitcoin more accessible in daily life.

In 2023, the Visa-Fold rewards program was expanded to include card users living in Latin America, Europe and Asia Pacific regions.

These developments strengthen Fold’s place in the cryptocurrency industry and support its aim of providing innovative solutions in the field of financial services. The process of going public will be a critical step in achieving the company’s growth goals.

If the merger is approved, Fold’s market value and footprint could expand significantly. Such innovative initiatives in the cryptocurrency world promise to create new opportunities for both investors and users.