Company: SPEG
Filing Date: 2025-08-25
Form Type: 10-Q
Source: 0002077096-25-000055
Chunk: 4

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-08-25
Form: 10-Q
Item: Part I, Item 1
Chunk 4
---
 loss
     
    $
    (46,399
    )
     
    $
    (18,507
    )
  
    Adjustments to reconcile net  loss to net cash used in operating activities:

    Payment of general and administrative costs through promissory note – related party

    46,304

    10,420

    Payment of formation costs through promissory note – related party

    —

    4,541

    Changes in operating assets and liabilities:

    Prepaid expenses

    16

    6

    Accrued expenses

    79

    3,540

    Net cash used in operating activities

    —

    —

    Net Change in Cash

    —

    —

    Cash – Beginning of period

    —

    —

    Cash – End of period
     
    $
    —

    $
    —

    Supplemental disclosure of cash flow information:

    Deferred offering costs included in accrued offering costs
     
    $
    892

    $
    49,173

    Deferred offering costs paid through promissory note – related party
     
    $
    70,961

    $
    1,030

    Deferred offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares
     
    $
    —

    $
    25,000

    Prepaid services contributed by Sponsor through promissory note – related party
     
    $
    —

    $
    26,320

The accompanying notes are an integral part of
the unaudited condensed financial statements. 

4

SILVER PEGASUS ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

(UNAUDITED)

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS

Silver Pegasus Acquisition Corp. (the “Company”)
is a blank check company incorporated as a Cayman Islands exempted corporation on June 5, 2024. The Company was incorporated for
the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar Business
Combination with one or more businesses (the “Business Combination”). The Company has not selected any specific Business
Combination target and the Company has not, nor has anyone on its behalf, engaged in any substantive discussions, directly or indirectly,
with any Business Combination target with respect to an initial Business Combination