Company: PMVC
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003340
Chunk: 218

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 218
---
Class B convertible common stock (the “Founder Shares”), and Class C common stock. Earnings and losses are shared pro-rata
between the three classes of shares. This presentation contemplates a transaction as the most likely outcome, in which case, all three
classes of shares share pro rata in the income (loss) of the Company. Accretion associated with the redeemable shares of Class A common
stock is excluded from earnings as the redemption value approximates fair value.

The following tables reflect the calculation of
basic and diluted net loss per share of common stock (in dollars, except share amounts):

    For the Years Ended December 31, 

    2024  
    2023 

    Class A convertible  common stock  
    Class A common stock  (fka Class C common stock)  
    Class B convertible  common stock  
    Class A convertible  common stock  
    Class A common stock  (fka Class C common stock)  
    Class B convertible  common stock 
  
    Basic net loss per share of common stock 

    Numerator: 

    Allocation of net loss 
    $—  
    $(114,421) 
    $(41,959) 
    $(61,871) 
    $(17,254) 
    $(29,016)
  
    Denominator: 

    Basic weighted average shares outstanding 
     —  
     73,169  
     26,831  
     57,214  
     15,955  
     26,831 

    Basic net loss per share of common stock 
    $—  
    $(1.56) 
    $(1.56) 
    $(1.08) 
    $(1.08) 
    $(1.08)

Concentration of Credit Risk

Financial instruments that potentially subject
the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal
Deposit Insurance Corporation coverage of $250,000. Any loss incurred, or a lack of access to such funds, could have a significant adverse
impact on the Company’s financial condition, results of operations, and cash flows.

Fair Value of Financial Instruments

Excluding the warrant liability, the fair value
of the Company’s assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurements
and Disclosures,” approx