공고 • Feb 16
FTAC Emerald Acquisition Corp. Announces CEO Changes FTAC Emerald Acquisition Corp. announced Effective as of the Closing, Mr. Young resigned as Chief Executive Officer. Effective as of the Closing, the Board appointed Mr. Reeves to serve as Chief Executive Officer. 공고 • Feb 15
FTAC Emerald Acquisition Corp. Announces Board and Committee Changes FTAC Emerald Acquisition Corp. announced Pursuant to the approval of Emerald stockholders from the Special Meeting, the following persons will constitute the Company’s Board effective upon the Closing: Will Reeves, Lesley Goldwasser, Kirstin Hill, Andrew Hohns, Jonathan Kirkwood, Erez Simha and Bracebridge H. Young Jr. Jonathan Kirkwood will serve as Chairman of the Board. Effective as of the Closing, the Board appointed Ms. Goldwasser, Ms. Hill and Mr. Simha to serve on the Audit Committee, with Mr. Simha as chair. The Board appointed Dr. Kirkwood and Mr. Young to serve on the Compensation Committee, with Dr. Kirkwood as chair. The Board appointed Ms. Hill and Mr. Young to serve on the Nominating Committee, with Mr. Young as chair. Effective as of the Closing, the Board appointed Mr. Dickman to serve as Chief Technology Officer. 공고 • Dec 25
FTAC Emerald Acquisition Corp.(OTCPK:FLDD) dropped from NASDAQ Composite Index FTAC Emerald Acquisition Corp. has been dropped from the NASDAQ Composite Index 공고 • Aug 02
FTAC Emerald Acquisition Corp.(NasdaqCM:FLD) dropped from NASDAQ Composite Index FTAC Emerald Acquisition Corp. has been dropped from NASDAQ Composite Index (^COMP) . 공고 • Jul 24
Fold, Inc. entered into an Agreement and Plan of Merger to acquire FTAC Emerald Acquisition Corp. (NasdaqCM : EMLD) for an Enterprise Value of approximately $380 million in a reverse merger transaction. Fold, Inc. entered into an Agreement and Plan of Merger to acquire FTAC Emerald Acquisition Corp. (NasdaqCM : EMLD) for an Enterprise Value of approximately $380 million in a reverse merger transaction on July 24, 2024. The transaction implies a pre-money equity valuation for Fold of $365 million. Upon the closing of the proposed transaction, the combined company intends to remain listed on NASDAQ under a new ticker symbol to be announced at a later date. It is anticipated that post-transaction Fold will have more than 1,000 BTC on its consolidated balance sheet. Fold expects to use the proceeds to accelerate the growth of Fold’s operations and treasury. Existing Fold stockholders will be subject to a six-month lock-up, subject to earlier release if the combined company’s stock price exceeds $12.00 per share for 20 trading days of any consecutive 30 trading day period ending on a date that is at least 90 days following the closing. Upon the closing of the transaction, legacy Fold stockholders are expected to own approximately 71.2% of the combined company’s outstanding shares.
Following the closing of the proposed transaction, Fold’s management team, led by Reeves, will continue to operate and manage Fold. Upon completion of the transaction, Fold Director Reeves will be joined on the combined company’s Board of Directors by Brace Young and FTAC Emerald Director Andrew Hohns, along with Jonathan Kirkwood of Ten31. The transaction is subject to regulatory approvals, approval of the proposed transaction by the stockholders of FTAC Emerald, and the satisfaction or waiver of other customary closing conditions, including a registration statement on Form S-4 being declared effective by the Securities and Exchange Commission (the “SEC”). The transaction has been unanimously approved by the boards of directors of both FTAC Emerald and Fold and expected to close in the fourth quarter of 2024.
Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, is acting as exclusive financial advisor and lead capital markets advisor to Fold. Latham & Watkins LLP is acting as legal advisor to Fold. Stevens & Lee PC is acting as legal advisor to FTAC Emerald. 공고 • Jun 30
FTAC Emerald Acquisition's Securities to be Transferred to the Nasdaq Capital Market at the Opening of Business on June 28, 2024 On June 26, 2024, FTAC Emerald Acquisition Corp. (the ‘Company’) was notified that the Company’s securities will be transferred to the Nasdaq Capital Market at the opening of business on June 28, 2024. Board Change • Dec 31
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Chairman of the Board Betsy Cohen is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 공고 • Oct 17
FTAC Emerald Acquisition Corp. announced that it has received $3 million in funding On October 16, 2023, FTAC Emerald Acquisition Corp. closed the transaction. The company issued a promissory note for gross proceeds of up to $3,000,000. 공고 • Oct 15
FTAC Emerald Acquisition Receives Non-Compliance Notice From Nasdaq On October 12, 2023, FTAC Emerald Acquisition Corp. (the “Company”), received a written notice (the “Notice”) from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company was not in compliance with Listing Rule 5450(a)(2), which requires the Company to have at least 400 public holders for continued listing on the Nasdaq Global Market (the “Minimum Public Holders Rule”). The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s securities on Nasdaq Global Market. The Notice states that the Company has 45 calendar days to submit a plan to regain compliance with the Minimum Public Holders Rule. If Nasdaq accepts the Company’s plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the Notice to evidence compliance with the Minimum Public Holders Rule. If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel.