Company: SPEG
Filing Date: 2025-08-25
Form Type: 10-Q
Source: 0002077096-25-000055
Chunk: 20

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-08-25
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 of the Class B.1 Private Placement Warrants, each warrant holder will be entitled to exercise
his, her or its Class B.1 Private Placement Warrant prior to the scheduled redemption date. However, the price of the Class A
ordinary shares may fall below the $18.00 redemption trigger price (as adjusted for share sub-divisions, share capitalizations, reorganizations,
recapitalizations and the like) as well as the $11.50 warrant exercise price after the redemption notice is issued.

The Class B.2 Private Placement Warrants
are not redeemable.

NOTE 5. RELATED PARTY TRANSACTIONS

Founder Shares

On June 28, 2024, the Sponsor made a capital
contribution of $25,000, or approximately $0.006 per share, for which the Company issued 4,312,500 founder shares to the Sponsor. Subsequently,
on February 6, 2025, the Company, through share capitalization, issued the sponsor an additional 1,437,500 Class B ordinary shares as
bonus shares, bringing the aggregate number of founder shares to 5,750,000 Class B ordinary shares. On May 7, 2025, the Sponsor surrendered
1,916,667 founder shares leaving 3,833,333 Class B ordinary shares with a price per share of approximately $0.075 per share. All share
and per share data have been retrospectively presented. Up to 500,000 of the founder shares may be surrendered by the Sponsor for no
consideration depending on the extent to which the underwriters’ over-allotment is exercised. On July 16, 2025, the underwriters
exercised their over-allotment option in full as part of the closing of the Initial Public Offering. As such, the 500,000 founder shares
are no longer subject to forfeiture.

11

SILVER PEGASUS ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

(UNAUDITED)

The Company’s initial shareholders have
agreed not to transfer, assign or sell any of their founder shares and any Class A ordinary shares issuable upon conversion thereof until
the earlier to occur of: (i) six months after the completion of the initial Business Combination or (ii) the date on which the Company
completes a liquidation, merger, share exchange or