Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 65

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 65
---
 the Company’s indemnity of the underwriters of the Initial Public Offering against certain
liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). However,
the Company has not asked the Sponsor to reserve for such indemnification obligations, nor has the Company independently verified whether
the Sponsor has sufficient funds to satisfy its indemnity obligations and the Company believes that the Sponsor’s only assets are
securities of the Company. Therefore, the Company cannot assure that the Sponsor would be able to satisfy those obligations.

On September 5, 2025, the Company announced that,
on or about September 8, 2025, the holders of the Company’s Units may elect to separately trade the Class A ordinary shares and
rights included in the Units. Each Unit consists of one Class A ordinary share and one right to receive one-tenth of one Class A ordinary
share upon the consummation of an initial business combination. Any Units not separated will continue to trade on the Global Market tier
of The Nasdaq Stock Market, LLC (“Nasdaq”) under the symbol “SPEGU.” Any underlying Class A ordinary shares and
rights that are separated will trade on Nasdaq under the symbols “SPEG” and “SPEGR,” respectively. Holders of
Units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in
order to separate the holders’ Units into Class A ordinary shares and rights.

Liquidity, Capital Resources and Going Concern

As of September 30, 2025, the Company had operating
cash of $452,101 and a working capital surplus of $521,849. The Company intends to use the funds held outside the Trust Account primarily
to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices,
plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material
agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

In connection with the Company’s assessment
of going concern considerations in accordance with ASC 205-40, “Going Concern,” as of September 30, 2025, the Company may
need to raise additional capital through loans or additional investments from its Sponsor, shareholders, officers, directors, or third
parties. The Company’s officers, directors and Sponsor may, but are not obligated to, loan the Company funds, from time to time