Gerber does NOT offer a fine edge folding Ultimate Knife. This is NOT a folding knife, it is the fine edge fixed blade. If you reference the manufacturer number with the Gerber website you can confirm. However, I am patiently waiting for the folding version of this knife.
It is a folding knife, don't be fooled by the look. I have the smaller model but I've seen this one in stores. And if you looked hard enough the sheath is meant for a folding knife. you can see it's closed and the extra space above it is just so you can attach it to a belt, hope I've helped!