Fold, Inc., a bitcoin financial services company, and FTAC Emerald Acquisition Corp. (NASDAQ: EMLD), a publicly traded special purpose acquisition company, announced that they have entered into a definitive agreement providing for a proposed business combination that will result in Fold becoming a publicly listed company. The transaction, which has been unanimously approved by the boards of directors of both FTAC Emerald and Fold, is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

Latham & Watkins LLP represents Fold in the transaction with a corporate deal team led by Houston partner Ryan Maierson, with associates Daniel Harrist, Brian Bruzzo, Mary Kline, and Rafael Go. Advice was also provided on tax matters by Houston partners Tim Fenn and Jared Grimley, with associate Molly Elkins; on benefits matters by Century City/Bay Area partner Julie Crisp, with associate Joseph Benedetto; on regulatory matters by New York partner Arthur Long and New York counsel Pia Naib; on cryptocurrency matters by New York partner Jenny Cieplak; on intellectual property matters by New York partner Jeff Tochner and New York associate Sebastian Moss; on data privacy matters by Houston/Austin counsel Robert Brown; and on capital markets matters by Houston associate Paul Robe.