Company: PMVC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075638
Chunk: 7

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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2022, any unseparated units of
the Company (consisting of one share of Class A convertible common stock and one-half of one redeemable warrant) terminated trading and
were subsequently separated.

6

PMV CONSUMER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

(Unaudited)

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS (CONT.)

On December 27, 2022, the Company announced
the completion of the redemption of its outstanding shares of Class A convertible common stock subject to redemption, totaling
2,046,609 shares issued in its IPO (the “Class A IPO Shares”), in accordance with the provision of its charter. Holders
representing a total of 2,042,409 shares of the Class A IPO Shares called for redemption elected to receive a pro rata share of the
cash, including the interest earned thereon net of interest that may be used by the Company to pay its taxes payable (and not any
stock), held in the Company’s Trust Account. The $10.10 per share pro rata amount was calculated by dividing the number of
Class A IPO Shares redeemed from each such holder by the total number of outstanding Class A IPO Shares. Holders representing a
total of 4,200 shares of the Class A IPO Shares called for redemption elected to receive Class C common stock issued on a
one-for-one basis for the number of Class A IPO Shares redeemed from each such holder, plus each such holder’s pro rata share
of the 200,000 shares of Class C common stock held in the IPO Trust Account. The pro rata share of the Class C common stock held in
the Trust Account was calculated by dividing the number of Class A IPO Shares redeemed from each such holder by the total number of
Class A IPO Shares redeemed from all holders of Class A IPO Shares that elected to receive stock. The amount of cash that would
otherwise have been paid to holders who redeemed for cash (totaling approximately $42,424) was released from the Trust Account and
transferred to the Company. The Trust Account was terminated following the release of the cash and stock to holders of Class A IPO
Shares in complete liquidation of the assets held in trust and accordingly the Company is no longer subject to the mandatory liquidation provisions. The 3,000,000 shares of Class A convertible common stock owned by the
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