Company: SPEG
Filing Date: 2025-01-21
Form Type: S-1
Source: 0001213900-25-005097
Chunk: 123

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-01-21
Form: S-1
Chunk 123
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 of founder shares even under circumstances where our public shareholders would experience losses in connection with their investment, a conflict of interest may arise in determining whether a particular business combination target is appropriate for our initial business combination, including in connection with the shareholder vote in respect thereto. In June 2024, our sponsor paid $25,000, or approximately $0.006 per share, to cover certain of our offering and formation costs in exchange for an aggregate of 4,312,000 founder shares (up to 562,500 of which are subject to forfeiture depending on the extent to which the underwriter’s over -allotmentoption is exercised). Prior to this initial investment in us by the sponsor, we had no assets, tangible or intangible. Our sponsor holds founder shares and has committed to purchase 350,000 private placement units. Subject to each non -managingsponsor investor purchasing, 75 through membership interests in the sponsor, the private placement units it has indicated its intention to purchase in connection with the closing of this offering, the sponsor will issue membership interests at a nominal purchase price to the non -managingsponsor investors reflecting economic interests in an aggregate of [*] founder shares. Our sponsor has committed to purchase an aggregate of 350,000 private placement units out of the 550,000 (or up to 406,250 private placement units if the over -allotmentoption is exercised), at a price of $10.00 per private placement unit ( $3,500,000 in the aggregate or up to $4,052,500 if the over -allotmentoption is exercised) in a private placement that will close simultaneously with the closing of this offering. If we do not complete our initial business combination within 24 months from the closing of this offering, unless the time to complete our initial business combination is extended in accordance with our memorandum and articles of incorporation, the private placement units will be worthless. Given the differential in the purchase price paid for the founder shares as compared to the initial public offering price of the public shares and the substantial number of Class A ordinary shares that holders of our founder shares would receive upon conversion of the founder shares upon a business combination, the founder shares may have significant value after the business combination even if our Class A ordinary shares trade below the initial public offering price and holders of our public shares have a substantial loss on their investment. The non -managingsponsor investors will have the same rights to the funds held in the trust account with respect to the Class A