Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 91

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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 more businesses (the “Business Combination”). We intend
to effectuate our Business Combination using cash derived from the proceeds of the Initial Public Offering and the sale of the Private
Placement Warrants, our shares, debt or a combination of cash, shares and debt.

We expect to continue to incur significant costs
in the pursuit of our acquisition plans. We cannot assure you that our plans to complete a Business Combination will be successful.

Results of Operations

We have neither engaged in any operations nor
generated any revenues to date. Our only activities from June 5, 2024 (inception) through September 30, 2025 were organizational
activities, those necessary to prepare for the Initial Public Offering, described below, and identifying a target company for a Business
Combination. We do not expect to generate any operating revenues until after the completion of our Business Combination. We generate
non-operating income in the form of interest income on marketable securities held in the Trust Account. We incur expenses as a result
of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

20

For the three months ended September 30,2025,
we had a net loss of $967,044, which consists of operating costs of $181,788, loss on derivative liability of $1,663,750 and transaction
costs of $111,382, offset by interest income on marketable securities held in the Trust Account of $989,876.

For the three months ended September 30,2024,
we had a net loss of $31,284, which consists of operating costs.

For the nine months ended September 30,
2025, we had a net loss of $1,013,443, which consists of operating costs of $228,187, loss on derivative liability of $1,663,750 and
transaction costs of $111,382, offset by interest income on marketable securities held in the Trust Account of $989,876.

For the
period from June 5, 2024 (inception) through September 30, 2024, we had a net loss of $49,791, which consists of operating
costs.

Liquidity and Capital Resources and Going
Concern

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