Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 20

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 disclose the title and position of the CODM and an explanation
of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate
resources. Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods,
and entities with a single reportable segment are required to provide all the disclosures required by the amendments in this ASU and existing
segment disclosures in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim
periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-07
on January 1, 2025.

Management does not believe that any other recently issued, but not
effective, accounting standards, if currently adopted, would have a material effect on the Company’s condensed financial statements.

NOTE 3. INITIAL PUBLIC OFFERING 

Pursuant to the Initial Public Offering, on July 16, 2025, the Company
sold 11,500,000 Units at a purchase price of $10.00 per Unit, which includes the full exercise by the underwriters of their over-allotment
option in the amount of 1,500,000 Units, generating gross proceeds of $115,000,000. Each Unit consists of one Class A ordinary share,
and right to receive one-tenth of one Class A ordinary share. Ten rights entitle the holder to receive one Class A ordinary share.

Rights

Except in cases where the Company is not the
surviving Company in a business combination, each holder of a right will automatically receive one-tenth of one Class A ordinary
share upon consummation of the initial Business Combination, even if the holder of a public right converted all Class A ordinary
shares held by them or it in connection with the initial Business Combination or an amendment to the amended and restated memorandum
and articles of association with respect to the pre-Business Combination activities. As a result, holders must hold ten rights to receive
one Class A ordinary share at the closing of the initial Business Combination. In the event the Company will not be the surviving
Company upon completion of the initial Business Combination, each holder of a right will be required to affirmatively convert its rights
in order to receive the one-tenth of a share underlying each right upon consummation of the Business Combination.