Company: SPEG
Filing Date: 2025-01-21
Form Type: S-1
Source: 0001213900-25-005097
Chunk: 91

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-01-21
Form: S-1
Chunk 91
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 that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 20% of the sum of (i) the total number of all Class A ordinary shares outstanding upon the completion of this offering (including any Class A ordinary shares issued pursuant to the underwriters’ over -allotmentoption and excluding the Class A ordinary shares underlying the private placement units issued to the sponsor), plus (ii) all Class A ordinary shares and equity -linkedsecurities issued or deemed issued, in connection with the closing of the initial business combination (excluding any shares or equity -linkedsecurities issued, or to be issued, to any seller in the initial business combination and any 57 private placement -equivalentunits issued to our sponsor or any of its affiliates or to our officers or directors upon conversion of working capital loans) minus (iii) any redemptions of Class A ordinary shares by public shareholders in connection with an initial business combination; provided that such conversion of founder shares will never occur on a less than one -for -onebasis. We may issue our shares to investors in connection with our initial business combination at a price which is less than the prevailing market price of our shares at that time. In connection with our initial business combination, we may issue shares to investors in private placement transactions (so -calledPIPE transactions) at a price of $10.00 per share or lower, at a price that approximates the per -shareamounts in our trust account at such time. The purpose of such issuances will be to enable us to provide sufficient liquidity and capital to the post -businesscombination entity. The price of the shares we issue may therefore be less, and potentially significantly less, than the market price for our shares at such time. Any such issuances of equity securities could dilute the interests of our existing shareholders. Since only holders of our Class B ordinary shares will have the right to vote on the appointment of directors, upon the listing of our shares on Nasdaq, Nasdaq will consider us to be a “controlled company” within the meaning of Nasdaq rules and, as a result, we may qualify for exemptions from certain corporate governance requirements. After completion of this offering and prior to the consummation of a business combination, only holders of our Class B ordinary shares will have the right to vote on the appointment of directors. As a result, Nasdaq will consider us to be a “controlled company” within the meaning of Nasdaq corporate governance standards. Under Nas