Company: SPEG
Filing Date: 2025-01-21
Form Type: S-1
Source: 0001213900-25-005097
Chunk: 323

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-01-21
Form: S-1
Chunk 323
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 which the Company issued 4,312,500 founder shares to the Sponsor. Up to 562,500 of the founder shares may be surrendered by the Sponsor for no consideration depending on the extent to which the underwriters’ over -allotmentis exercised. The Company’s initial shareholders have agreed not to transfer, assign or sell any of their founder shares and any Class A ordinary shares issuable upon conversion thereof until the earlier to occur of: (i) six months after the completion of the initial Business Combination or (ii) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction after the initial Business Combination that results in all of the shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property. Any permitted transferees will be subject to the same restrictions and other agreements of the initial shareholders with respect to any founder shares. Such transfer restrictions are referred to as the lock -up. Notwithstanding the foregoing, if (1) the closing price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub -divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 -tradingday period commencing after the initial Business Combination or (2) if the Company consummates a transaction after the initial Business Combination which results in the shareholders having the right to exchange their shares for cash, securities or other property, the founder shares will be released from the lock -up. Promissory Note — Related Party The Sponsor has agreed to loan the Company an aggregate of up to $300,000 to be used for a portion of the expenses of the Proposed Public Offering. The loan is non -interestbearing, unsecured and due at the earlier of March 31, 2025 or the closing of the Proposed Public Offering. The loan will be repaid out of the $735,000 of offering proceeds that has been allocated to the payment of offering expenses. As of December31, 2024, the Company had borrowed $62,384 under the promissory note. F-12 Silver Pegasus Acquisition Corp.
NOTES TO FINANCIAL STATEMENTS Note 5 — Related Party Transactions (cont.) Administrative Services Agreement Commencing on the effective date of the Proposed Public Offering, the Company will enter into an agreement with the Sponsor or an affiliate to pay an aggregate of $15,000 per month for office space, utilities, and secretarial