01:02 PM EDT, 07/24/2024 (MT Newswires) -- FTAC Emerald Acquisition ( EMLD ) and financial technology firm Fold said Wednesday that they have agreed to a merger that will result in a Fold becoming a public company.

After completion, the combined company will remain listed on the Nasdaq under a new ticker, according to the joint statement.

The legacy Fold shareholders will own about 71% of the combined company at closing and their equity will be subject to a six-month lockup period.

The transaction is approved by the boards of both companies and is expected to close in Q4.

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