Company: PMVC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043278
Chunk: 56

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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, the “Founder Shares”, for an aggregate purchase price of $25,000, or approximately
$0.007 per share. On August 3, 2020, the Company effected a 1.4-for-1 forward stock split of its issued and outstanding shares of Class
B convertible common stock, resulting in an aggregate of 5,031,250 Founder Shares being issued and outstanding. The Underwriters’
over-allotment option expired unutilized resulting in 656,250 shares of Founder Shares being forfeited. As of March 31, 2025 and December
31, 2024, 26,831 (restated for reverse stock split) Founder Shares were issued and outstanding. The foregoing issuance was made pursuant
to the exemption from registration contained in Section 4(a)(2) of the Securities Act.

On September 24, 2020, we consummated the Initial
Public Offering of 17,500,000 Units, which did not include the full or partial exercise by the underwriters of the over-allotment option
to purchase an additional 2,625,000 Units, at $10.00 per Unit. The securities in the offering were registered under the Securities Act
on registration statements on Form S-1 (No. 333-241670). The Securities and Exchange Commission declared the registration statements effective
on September 21, 2020.

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the sale of 6,150,000 warrants at a price of $1.00 per Private Warrant in a private placement
to PMV Consumer Acquisition Holdings Company, LLC, generating gross proceeds of $6,150,000. The issuance was made pursuant to the exemption
from registration contained in Section 4(a)(2) of the Securities Act.

The Private Warrants are identical to the warrants
underlying the Units sold in the Initial Public Offering, except that the Private Warrants are not transferable, assignable or saleable,
subject to certain limited exceptions.

Of the gross proceeds received from the Initial
Public Offering and the sale of the Private Warrants, $175,000,000 was placed in the Trust Account. The Trust Account was terminated following
the redemption of the outstanding shares of Class A convertible common stock subject to redemption, which was completed on December 27,
2022, in accordance with the provisions of our charter, and all cash and stock held therein was released to holders of