Company: SPEG
Filing Date: 2025-08-25
Form Type: 10-Q
Source: 0002077096-25-000055
Chunk: 27

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-08-25
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 are aligned with all agreements and budget.

NOTE 9. SUBSEQUENT EVENTS 

The Company evaluated subsequent events and transactions
that occurred after the condensed balance sheet date up to the date that the unaudited condensed financial statements were issued. Based
upon this review, other than as described below, the Company did not identify any subsequent events that would have required adjustment
or disclosure in the unaudited condensed financial statements.

On July 14, 2025, the Company entered into an
agreement with the Sponsor or an affiliate to pay an aggregate of $10,000 per month for office space, utilities, and secretarial and
administrative support.

On July 16, 2025, the Company consummated the
Initial Public Offering of 11,500,000 units, which includes the full exercise by the underwriters of their over-allotment option in the
amount of 1,500,000 Units at $10.00 per Unit, generating gross proceeds of $115,000,000.

On July 16, 2025, simultaneously with the closing
of the Initial Public Offering, the Company consummated the sale of 3,250,000 warrants, comprising of two classes of warrants, consisting
of Class B.1 warrants and Class B.2 warrants at a price of $1.00 per Private Placement Warrant, in a private placement to the Sponsor
and to underwriters of the Initial Public Offering, generating gross proceeds of $3,250,000.

On July 16, 2025, upon the closing of the Initial
Public Offering, the underwriters were paid in cash of $2,000,000 underwriting discount. Additionally, the underwriters are entitled
to a deferred underwriting discount of 3.5% of the gross proceeds of the Initial Public Offering, $4,025,000 in the aggregate upon the
completion of the Company’s initial Business Combination subject to the terms of the underwriting agreement.

On July 16, 2025, the Company fully paid the
$194,649 outstanding borrowings under the promissory note. Borrowings under this note are no longer available.

14

Item 2. Management’s Discussion and
Analysis of Financial Condition and Results of Operations

References in this report (the “Quarterly
Report”) to “we,” “us” or the “Company” refer to Silver Pegasus Acquisition Corp. References
to our “management” or our “management team” refer