Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 85

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 or deemed issued, in connection with the closing of
the initial Business Combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial
Business Combination and any private placement-equivalent rights issued to the Sponsor or any of its affiliates or to officers or directors
upon conversion of working capital loans) minus (iii) any redemptions of Class A ordinary shares by public shareholders in connection
with an initial business combination; provided that such conversion of founder shares will never occur on a less than one-for-one basis.

Holders of record of the Company’s Class A ordinary shares
and Class B ordinary shares are entitled to one vote for each share held on all matters to be voted on by shareholders. Unless specified
in the amended and restated memorandum and articles of association or as required by the Companies Act or stock exchange rules, an ordinary
resolution under Cayman Islands law and the amended and restated memorandum and articles of association, which requires the affirmative
vote of at least a majority of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed,
by proxy at the applicable general meeting of the Company is generally required to approve any matter voted on by shareholders. Approval
of certain actions requires a special resolution under Cayman Islands law, which (except as specified below) requires the affirmative
vote of at least two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed,
by proxy at the applicable general meeting, and pursuant to the amended and restated memorandum and articles of association, such actions
include amending the amended and restated memorandum and articles of association and approving a statutory merger or consolidation with
another company. There is no cumulative voting with respect to the appointment of directors, meaning, following the initial business combination,
the holders of more than 50% of the ordinary shares voted for the appointment of directors can elect all of the directors. Prior to the
consummation of the initial Business Combination, only holders of the Class B ordinary shares will (i) have the right to vote
on the appointment and removal of directors and (ii) be entitled to vote on continuing the Company in a jurisdiction outside the
Cayman Islands (including any special resolution required to amend the constitutional documents or to adopt new constitutional documents,
in each case, as a result of the approving a transfer by way of continuation in a jurisdiction outside