Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 97

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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 under the Exchange Act. Based on the foregoing, our
Certifying Officers concluded that our disclosure controls and procedures were effective as of the end of the quarterly period ended
September 30, 2025.

Changes in Internal Control over Financial
Reporting

There was no change in our internal control over
financial reporting that occurred during the fiscal quarter of 2025 covered by this Quarterly Report on Form 10-Q that has materially
affected, or is reasonably likely to materially affect, our internal control over financial reporting.

23

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 1A. Risk Factors

Factors that could cause our actual results to
differ materially from those in this report include the risk factors described in our final prospectus for its Initial Public Offering
filed with the SEC. As of the date of this Report, there have been no material changes to the risk factors disclosed in our final prospectus
for its Initial Public Offering filed with the SEC.

Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds.

On July 16, 2025, we consummated the Initial
Public Offering of 11,500,000 Units, which includes the full exercise by the underwriters of their over-allotment option in the amount
of 1,500,000 Units, at $10.00 per Unit, generating gross proceeds of $115,000,000, which is discussed in Note 3. Roth Capital Partners
LLC acted as sole book-running manager of the offering. The securities in the offering were registered under the Securities Act on registration
statement on Form S-1 (No. 333-284395). The Securities and Exchange Commission declared the registration statements effective on July
15, 2025.

Simultaneously with the closing of the Initial Public Offering, we consummated the sale of 3,250,000 Private Placement Warrants, comprising
of two classes of warrants, consisting of Class B.1 warrants and Class B.2 warrants, at a price of $1.00 per Private Placement Warrant,
in a private placement to the Sponsor, and the representatives of the underwriters of the Initial Public Offering, generating gross proceeds
of $3,250,000. Each Private Placement Warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50
per share, subject to adjustment. Of those 3,250,000 Private Placement Warrants,