Company: PMVC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043278
Chunk: 70

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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 B convertible common stock, 25,000,000 shares of Class C common stock and 20,000,000 shares of Special
common stock, and 20,000,000 shall be shares of preferred stock; to permit the Company’s board of directors to create Special common
stock in one or more series and to fix for each series the voting powers, designations, preferences, rights, qualifications, limitations
and restrictions thereof; to provide for (i) the right of a holder of Class A convertible common stock to convert into Class C common
stock on a one-for-one basis, (ii) the right of the Company to redeem Class A convertible common stock in exchange for a pro rata share
of the net cash (and not stock) held in the Company’s Trust Account, unless the holder elects to receive Class C common stock issued
on a one-for-one basis, plus a pro rata share of any stock held in the Trust Account, and (iii) upon such redemption the extinguishment
of the legal force and effect of the business combination and Trust Account provisions contained in paragraphs A through I of Article
Sixth of the charter; to (i) eliminate the Class B convertible common stock anti-dilution provisions that require adjustment to maintain
the specified 20% class ownership, and (ii) provide for the right of a holder of Class B convertible common stock to convert into Class
C common stock on a one-for-one basis. All such amendments were approved at the Meeting. On September 27, 2022, the Sponsor (the “Sponsor”)
contributed to the Company for purposes of making a deposit into the Company’s Trust Account of an aggregate of 200,000 shares of
Class B convertible common stock (to be converted into Class C common stock) to extend the date by which the Company has to consummate
a business combination for one year, from September 21, 2022 to September 21, 2023.

At the Meeting, in connection with the extension,
stockholders holding 15,453,391 shares of Class A convertible common stock exercised their right to redeem such shares for a pro rata
portion of the funds in the Trust Account. As a result, $154,874,303 (approximately $10.02 per share), which included $340,393 of interest
earned on the Trust Account which was not previously used to pay the Company’s tax obligation, was removed from the Trust Account
to pay such holders.