Company: PMVC
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003340
Chunk: 695

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7A
Chunk 695
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000 shares of Class A convertible common stock, 1,175,000 shares of Class B convertible common stock, 204,200 shares
of Class C common stock, 8,750,000 public warrants and 6,150,000 private placement warrants, as well as approximately $1,149,157 of cash
on hand available for working capital purposes.

On February 27, 2023, the Sponsor purchased the
204,200 shares of Class C common stock from the holder thereof, which were comprised of (i) 4,200 shares of Class C common stock, which
were issued on a one-for-one basis for the number of Class A convertible common stock of the Company previously redeemed from the holder
(as described above), and (ii) 200,000 shares of Class C common stock, which represents the holder’s pro rata share of the Class
C common stock that were held in the Trust Account (as described above), for an aggregate purchase price of $42,000.

On September 29, 2023, the Sponsor elected to
voluntarily convert all of its shares of Class A convertible common stock into shares of Class C common stock (the “Class C Conversion”).
Following this conversion, which occurred on November 1, 2024, the Sponsor owned 1,175,000 shares of Class B convertible common stock
and 3,204,200 shares of Class C Common Stock.

In light of the Class C Conversion, and in order
to simplify and better reflect the purpose, capital structure, governance and organizational policies and procedures of the Company, the
Board of Directors of the Company (the “Board”) recommended, and the stockholders approved on September 29, 2023, various
amendments to the Charter, as well as a reverse stock split of all outstanding shares of Class B convertible common stock and Class C
common stock at a ratio of 43.792-to-1 (the “Reverse Stock Split”).  The purpose of the Reverse Stock Split was to decrease
the total number of shares of the Company’s Common Stock outstanding and increase the liquidity and market price of such shares
to approximately $10.00 per share.  The other amendments to the Charter were as follows: (i) the elimination of any and all authorized
shares of Class A convertible common stock,  the renaming of the Class C common stock to Class A common Stock (the “Reclassification”),
and the elimination of any and all authorized shares