Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 63

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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 the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business
Combination either (i) in connection with a general meeting called to approve the initial Business Combination or (ii) without
a shareholder vote by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a proposed initial
Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public shareholders will be
entitled to redeem their shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account
calculated as of two business days prior to the consummation of the initial Business Combination, including interest earned
on the funds held in the Trust Account (less taxes payable, other than any excise or similar tax that may be due or payable), divided
by the number of then outstanding public shares, subject to the limitations. The amount in the Trust Account is initially anticipated
to be $10.00 per public share.

The ordinary shares subject to redemption were
recorded at a redemption value and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with
Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 480,
“Distinguishing Liabilities from Equity.”

The Company will have only the duration of the
Completion Window to complete the initial Business Combination. However, if the Company is unable to complete its initial Business Combination
within the Completion Window, the Company will as promptly as reasonably possible but not more than ten business days
thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust
Account, including interest earned on the funds held in the Trust Account (less taxes payable, other than any excise or similar tax that
may be due or payable, and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public
shares, which redemption will constitute full and complete payment for the public shares and completely extinguish public shareholders’
rights as shareholders (including the right to receive further liquidation or other distributions, if any), subject to the Company’s
obligations under Cayman Islands law to provide for claims of creditors and subject to the other requirements of applicable law.

6

SILVER PEGASUS ACQUISITION CORP.

NOTES TO