Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 78

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 78
---
 exemption. Notwithstanding the above, if Class A ordinary shares are at the time of any exercise of
a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under
Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of public warrants who exercise their
warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event
the Company so elects, it will not be required to file or maintain in effect a registration statement.

13

SILVER PEGASUS ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited) 

Redemption of Class B.1 Private Placement
Warrants when the price per Class A ordinary share equals or exceeds $18.00. Once the Class B.1 Private Placement Warrants
become exercisable, the Company may redeem the outstanding Class B.1 Private Placement Warrants:

●in
whole and not in part;

●at
a price of $0.01 per warrant; upon a minimum of 30 days’ prior written notice of redemption (the “30-day redemption
period”); and

●if, and only if, the closing price of the Class A ordinary shares
equals or exceeds $18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of
a warrant) for any 20 trading days within a 30-trading day period commencing at least 30 days after completion of the initial
Business Combination and ending three business days before the Company sends the notice of redemption to the warrant holders.

The Company will not redeem the Class B.1 Private Placement Warrants
as described above unless a registration statement under the Securities Act covering the issuance of the Class A Ordinary Shares
issuable upon exercise of the warrants is then effective and a current prospectus relating to those Class A Ordinary Shares is available
throughout the measurement period. If and when the Class B.1 Private Placement Warrants become redeemable by the Company, the Company
may not exercise its redemption right if the issuance of Ordinary Shares upon exercise of the Class B.1 Private Placement Warrants
is not exempt from registration or