Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 41

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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ements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial
assets.

Contractual obligations

We do not have any long-term debt, capital lease
obligations, operating lease obligations or long-term liabilities, other than an agreement with the Sponsor or an affiliate, to pay an
aggregate of $10,000 per month for office space, utilities, and secretarial and administrative support. We began incurring these fees
on July 14, 2025 and will continue to incur these fees monthly until the earlier of the completion of the Business Combination and our
liquidation.

The underwriters have a 45-day option from the
date of the Initial Public Offering to purchase up to an additional 1,500,000 units to cover over-allotments, if any. On July 16,
2025, simultaneously with the closing of the Initial Public Offering, the underwriters fully exercised the over-allotment option to purchase
an additional 1,500,000 Units.

Critical Accounting Policies

The preparation of unaudited condensed financial
statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets
and liabilities at the date of the unaudited condensed financial statement, and income and expenses during the periods reported. Making
estimates requires management to exercise significant judgement. It is at least reasonably possible that the estimate of the effect of
a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial statement, which management
considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual
results could materially differ from those estimates. As of September 30, 2025, we did not have any critical accounting estimates to
be disclosed.

Class A Ordinary Shares Subject to Possible
Redemption

We account for our ordinary shares subject to
possible conversion in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing
Liabilities from Equity.” Ordinary shares subject to mandatory redemption are classified as a liability instrument and measured
at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within
the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within our control) are classified
as temporary equity.