Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 8

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding voting securities of the target
or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company
under the Investment Company Act of 1940, as amended (the “Investment Company Act”). There is no assurance that
the Company will be able to successfully effect a Business Combination.

5

SILVER PEGASUS ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited) 

Upon closing of the Initial Public Offering, on July 16, 2025, an amount
of $115,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units and the sale of the Private Placement Warrants was placed
in a trust account (the “Trust Account”) and may only be invested in U.S. government treasury obligations with a maturity
of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act, which
invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary
and for the sole purpose of facilitating the intended business combination. To mitigate the risk that might be deemed to be an investment
company for purposes of the Investment Company Act, which risk increases the longer that the Company holds investments in the Trust Account,
the Company may, at any time (based on management team’s ongoing assessment of all factors related to the potential status under
the Investment Company Act), instruct the trustee to liquidate the investments held in the Trust Account and instead to hold the funds
in the Trust Account in cash or in an interest bearing demand deposit account at a bank. Except with respect to interest earned on the
funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the proceeds from the Initial Public Offering
and the sale of the Private placement warrants that were deposited into the Trust Account will not be released from the Trust Account
until the earliest of (i) the completion of the Company’s initial Business Combination, (ii) the redemption of the Company’s
public shares if the Company is unable to complete the initial Business Combination within 18 months from the closing of the Initial
Public Offering or by