Company: PMVC
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003340
Chunk: 587

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 6
Chunk 587
---
, 2020, the Sponsor purchased 3,593,750
shares of Class B convertible common stock (the “Founder Shares”) for an aggregate 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 outstanding, of which an aggregate of up to 656,250 shares were subject to forfeiture by the Sponsor to the extent that the
underwriters’ over-allotment option was not exercised in full or in part so that the Sponsor would own, on an as-converted basis,
20% of the Company’s issued and outstanding shares after the Initial Public Offering.

On November 5, 2020, the over-allotment option
expired and was not exercised. Consequently 656,250 Founder Shares were forfeited. Following the forfeiture, the sponsor owned 4,375,000
shares of Class B convertible common stock.

On September 27, 2022, the Company’s Sponsor
contributed to the Company an aggregate of 200,000 shares of Class B convertible common stock. Following the contribution, the Sponsor
owned 4,175,000 shares of Class B convertible common stock.

On October 17, 2022, the Sponsor elected to convert
3,000,000 shares of Class B convertible common stock into 3,000,000 shares of Class A convertible common stock. Following the conversion,
the Sponsor owned 1,175,000 shares of Class B convertible common stock.

The Class B convertible common stock is identical
to the Class A common stock except that (i) each share of Class B convertible common stock shall be entitled to ten (10) votes at any
annual or special meeting of stockholders or in the case of any written consent of stockholders in lieu of a meeting and for all purposes,
and (ii) the Class B convertible common stock has the exclusive right to elect, replace and remove the directors of the Company. Holders
of Class B convertible common stock may also elect to convert their shares of Class B convertible common stock into an equal number of
shares of Class A common stock, subject to adjustment as provided above, at any time.

On February 27, 2023, the Sponsor purchased 204,200
shares of Class C common stock from a