Company: SPEG
Filing Date: 2025-05-20
Form Type: S-1/A
Source: 0001213900-25-045972
Chunk: 221

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-05-20
Form: S-1/A
Chunk 221
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 of directors, which will consist of Messrs. Johnston, Noonen and Parsa will expire at the second annual general meeting. The term of office of the third class of directors, which will consist of Mr. Johnston will expire at the third annual general meeting. Our officers are appointed by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint officers as it deems appropriate pursuant to our amended and restated memorandum and articles of association. Director Independence Nasdaq rules require that a majority of our board of directors be independent within one year of our initial public offering. An “independent director” is defined generally as a person who, in the opinion of the company’s board of directors, has no material relationship with the listed company (either directly or as a partner, shareholder or officer of an organization that has a relationship with the company). Upon the commencement of the trading of our units on Nasdaq, we expect to have four “independent directors” as defined in Nasdaq rules and applicable SEC rules prior to completion of this offering. Our board of directors expects to determine that Messrs. Parsa, Noonen and Eisenberg are “independent directors” as defined in Nasdaq listing standards and applicable SEC rules. Our independent directors will have regularly scheduled meetings at which only independent directors are present. Executive Officer and Director Compensation None of our executive officers or directors have received any cash compensation for services rendered to us. Certain of our officers and directors own membership interests in our sponsor, which paid a nominal aggregate purchase price of $25,000 for the founder shares, or approximately $0.004 per share The Class A ordinary shares issuable in connection with the conversion of the founder shares may result in material dilution to our public shareholders due to the anti -dilutionrights of our founder shares that may result in an issuance of Class A ordinary shares on a greater than one -to-onebasis upon conversion. We are not prohibited from paying any fees (including advisory fees), reimbursements or cash payments to our sponsor, officers or directors, or our or their affiliates, for services rendered to 137 us prior to or in connection with the completion of our initial business combination, including the following payments, all of which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account: •Repayment of up to an aggregate of $300,000 in loans made to us by our sponsor to cover