Company: PMVC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075638
Chunk: 77

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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ers 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
Sponsor were not redeemed and were expressly excluded from participating in, and were not otherwise entitled to, any of the cash and
stock held in the Trust Account. The Class A IPO Shares redeemed are no longer deemed to be outstanding and all rights of the
holders thereof as stockholders of the Company with respect to the Class A IPO Shares so redeemed have ceased. The Class C common
stock received by holders who elected to receive stock has not been listed on a securities exchange. Following the redemption, the
Company had outstanding 3,000,000 shares of Class A convertible common stock, 1,175,000 shares of Class B convertible common stock,
204,200 shares of Class C common stock, 8,750,000 public warrants and 6,150,000 private placement warrants, as well as approximately
$1,149,000 of cash on hand available for working capital purposes.

On February 27, 2023, the Sponsor purchased the
204,200 shares of Class C common stock from the holder thereof, which were comprised of (i) 4,200 shares of Class C common stock, which
were issued on a one-for-one basis for the number of Class A convertible common stock of the Company previously redeemed from the holder
(as described above), and (ii) 200,000 shares of Class