FTAC Emerald Acquisition Corp. announced that it has entered into a subscription agreement with Polar Multi-Strategy Master Fund, , Emerald ESG Sponsor LLC, Emerald ESG Advisors, LLC, and Emerald ESG Funding, LLC to issue common shares for the gross proceeds of $550,000 on January 3, 2024. An initial capital call of $350,000 is intended to take place within five business days of the signing of the Subscription Agreement, and the Sponsors may request a second capital call of $200,000 within five business days of April 1, 2024, subject to certain specified conditions.

The Capital Contribution shall be repaid to Polar by ESG Funding upon the Company?s closing of an initial business combination. In consideration of the Capital Contribution, the Company has agreed to issue, or to cause the surviving entity following the Closing to issue, 1.0 share of common stock of the Surviving Company for each dollar of the Capital Contribution funded as of or prior to the Closing, which shares shall be subject to no transfer restrictions or any other lock-up provisions, earn outs, or other contingencies and shall be registered as part of any registration statement to be filed in connection with the Closing or, if no such registration statement is filed in connection with the Closing, pursuant to the first registration statement to be filed by the Company or the Surviving Company following the Closing. The Capital Contribution is non-interest bearing and shall be repaid by ESG Funding (upon receipt of funds from the Company) to, and at the election of, Polar in Common Stock, at a rate of 1.0 share of Common Stock for each ten dollars ($10.00) of the Capital Contribution funded as of the Closing or in cash.