Company: PMVC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001213900-25-107610
Chunk: 18

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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,000 shares of Class B convertible common
stock. Following the contribution, the Sponsor owned 4,175,000 shares of Class B convertible common stock.

On
October 17, 2022, the Sponsor elected to convert 3,000,000 shares of Class B convertible common stock into 3,000,000 shares of Class
A convertible common stock. Following the conversion, the Sponsor owned 1,175,000 shares of Class B convertible common stock.

The
Class B convertible common stock is identical to the Class A common stock except that (i) each share of Class B convertible common stock
shall be entitled to ten (10) votes at any annual or special meeting of stockholders or in the case of any written consent of stockholders
in lieu of a meeting and for all purposes, and (ii) the Class B convertible common stock has the exclusive right to elect, replace and
remove the directors of the Company. Holders of Class B convertible common stock may also elect to convert their shares of Class B convertible
common stock into an equal number of shares of Class A common stock, subject to adjustment as provided above, at any time.

11

PMV
CONSUMER ACQUISITION CORP.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

(Unaudited)

NOTE
3. RELATED PARTY TRANSACTIONS (CONT.)

On
February 27, 2023, the Sponsor purchased 204,200 shares of Class C common stock from a Holder, which were comprised of (i) 4,200 shares
of Class C common stock, which were issued on a one-for-one basis for the number of shares of Class A convertible common stock of the
Company previously redeemed from the Holder, and (ii) 200,000 shares of Class C common stock, which represent the Holder’s pro
rata share of the Class C common stock that were held in the Trust Account, for an aggregate purchase price of $42,000.

On
November 1, 2023, the Sponsor voluntarily elected to convert all of its shares of Class A convertible common stock into shares of Class
C common stock (the “Class C Conversion”), which upon completion the Class C common stock was renamed Class A common stock.

Administrative
Support Agreement

The
Company entered into an agreement whereby, commencing September 24, 2020, the Company will pay an affiliate of the Sponsor a total of