Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 38

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 net loss of $31,284, which consists of operating costs.

For the nine months ended September 30,
2025, we had a net loss of $1,013,443, which consists of operating costs of $228,187, loss on derivative liability of $1,663,750 and
transaction costs of $111,382, offset by interest income on marketable securities held in the Trust Account of $989,876.

For the
period from June 5, 2024 (inception) through September 30, 2024, we had a net loss of $49,791, which consists of operating
costs.

Liquidity and Capital Resources and Going
Concern

On July 16, 2025, we consummated the Initial
Public Offering of 11,500,000 Units, which includes the full exercise by the underwriters of their over-allotment option in the amount
of 1,500,000 Units, at $10.00 per Unit, generating gross proceeds of $115,000,000, which is discussed in Note 3. Simultaneously with
the closing of the Initial Public Offering, we consummated the sale of 3,250,000 Private Placement Warrants, comprising of two classes
of warrants, consisting of Class B.1 warrants and Class B.2 warrants, at a price of $1.00 per Private Placement Warrant, in a private
placement to the Sponsor, and the representatives of the underwriters of the Initial Public Offering, generating gross proceeds of $3,250,000.

Following the Initial Public Offering, the full
exercise of the over-allotment option, and the sale of the Units, a total of $115,000,000 was placed in the Trust Account. We incurred
$6,471,835 in Initial Public Offering related costs, consisting of $2,000,000 of cash underwriting fee, $4,025,000 of deferred underwriting
fee, and $446,835 of other offering costs.

For the nine months ended September 30, 2025,
cash used in operating activities was $339,500. Net loss of $1,013,443 was affected by payment of operation costs through promissory
note of $61,303, offering costs charged to profit and loss of $111,383, change in fair value of rights liabilities of $944,150, change
in fair value of warrant liabilities of $719,