FTAC Emerald Acquisition Corp.
EMLD
NASDAQ Global Market10.96
USD
-0.01
- -
CIK
0001889123
ISIN
US29103K1007
CUSIP
29103K100
Return %
Stock
S&P500
1Y
4.98
26.57
3Y
12.99
76.60
5Y
12.99
78.48
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Bracebridge Hemyng Young Jr.
- Full Time Employees
- 3
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 2929 Arch Street Philadelphia PA United States of America 19104
- IPO Date
- Feb 9, 2022
- CIK
- 0001889123
- Similar Companies
- Business
- FTAC Emerald Acquisition Corp. is a special purpose acquisition company (SPAC) focused on mergers, acquisitions, capital stock exchanges, and similar business combinations with entities committed to social, financial, and environmental value. Founded with sponsorship from Cohen Circle, FTAC Emerald is publicly listed and operates primarily in the United States. The company initially raised approximately $248.7 million through its IPO and supplementary private placements, trading under the ticker symbol EMLD on Nasdaq. FTAC Emerald’s main recent corporate activity is its strategic business combination with Fold, Inc., a bitcoin financial services company founded in 2019. This transformative merger, expected to have completed in early 2025, positions Fold as a publicly listed company under the new name Fold Holdings, Inc., with Nasdaq ticker symbols FLD for common stock and FLDDW for warrants. Fold engages in bitcoin-focused financial products, including bitcoin rewards programs and transaction processing, having processed over $2 billion in transaction volume and distributed more than $45 million in bitcoin rewards. Fold’s operations include partnerships with major financial service providers such as Visa, BitGo, and Marqeta. The merger represents a significant strategic shift for FTAC Emerald from a blank check SPAC to a bitcoin-centric financial services company with an asset base including more than 1,000 bitcoin on its balance sheet post-transaction. Fold aims to expand access to bitcoin investment and payments, targeting retail and institutional customers in the cryptocurrency and broader fintech market segments. The transaction received unanimous board approvals from both companies and shareholder consent from FTAC Emerald’s investors, reflecting a pivotal operational change from SPAC to operating company status. FTAC Emerald Acquisition Corp., before the merger, was primarily involved in facilitating capital markets transactions and was headquartered in the U.S. With the combination, the company’s business scope now encompasses bitcoin financial services, including bitcoin rewards cards, payment processing, and treasury management solutions. Legal and financial advisory services for the transaction were provided by financial groups including Cohen & Company Capital Markets and legal firms such as Latham & Watkins LLP. In summary, FTAC Emerald Acquisition Corp. has transitioned from a SPAC to operating as Fold Holdings, Inc., a bitcoin financial services provider leveraging extensive bitcoin transaction processing capabilities and strategic partnerships to drive growth within the digital currency ecosystem across the United States and potentially broader markets. This evolution marks the company’s expansion into the rapidly growing fintech and cryptocurrency industries with a clear focus on bitcoin integration in financial products and services.