Company: PMVC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001213900-25-107610
Chunk: 8

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 Trust Account. The $10.10 per share pro rata amount was calculated by dividing the number
of Class A IPO Shares redeemed from each such holder by the total number of outstanding Class A IPO Shares. Holders representing a total
of 4,200 shares of the Class A IPO Shares called for redemption elected to receive Class C common stock issued on a one-for-one basis
for the number of Class A IPO Shares redeemed from each such holder, plus each such holder’s pro rata share of the 200,000 shares
of Class C common stock held in the IPO Trust Account. The pro rata share of the Class C common stock held in the Trust Account was calculated
by dividing the number of Class A IPO Shares redeemed from each such holder by the total number of Class A IPO Shares redeemed from all
holders of Class A IPO Shares that elected to receive stock. The amount of cash that would otherwise have been paid to holders who redeemed
for cash (totaling approximately $42,424) was released from the Trust Account and transferred to the Company. The Trust Account was terminated
following the release of the cash and stock to holders of Class A IPO Shares in complete liquidation of the assets held in trust and
accordingly the Company is no longer subject to the mandatory liquidation provisions. The 3,000,000 shares of Class A convertible common
stock owned by the Sponsor were not redeemed and were expressly excluded from participating in, and were not otherwise entitled to, any
of the cash and stock held in the Trust Account. The Class A IPO Shares redeemed are no longer deemed to be outstanding and all rights
of the holders thereof as stockholders of the Company with respect to the Class A IPO Shares so redeemed have ceased. The Class C common
stock received by holders who elected to receive stock has not been listed on a securities exchange. Following the redemption, the Company
had outstanding 3,000,000 shares of Class A convertible common stock, 1,175,000 shares of Class B convertible common stock, 204,200 shares
of Class C common stock, 8,750,000 public warrants and 6,150,000 private placement warrants, as well as approximately $1,149,000 of cash
on hand available for working capital purposes.

On
February 27, 2023, the Sponsor purchased the 204,200 shares of Class C common stock from the holder thereof, which were comprised of
(i) 4,200 shares of Class C common