Company: PMVC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043278
Chunk: 74

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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 filed a Second Amended and Restated
Certificate of Incorporation, dated November 1, 2023, with the State of Delaware.

Also, the Board recommended, and the stockholders
approved on September 29, 2023, an amendment to the Bylaws of the Company (the “Bylaws”) to provide that, subject to applicable
law, any action that is required or permitted to be taken by the stockholders of the Company at any annual or special meeting of stockholders
may be effected by written consent of stockholders in lieu of a meeting.  On November 2, 2023, the Company filed the Amended and
Restated Bylaws with the State of Delaware.

On March 12, 2024 (the “Effective Date”),
the Reverse Stock Split was declared effective. As a result of the Reclassification and the Reverse Stock Split, approximately 26,831
shares of Class B convertible common stock are in issue and outstanding and approximately 73,169 shares of Class A common stock are in
issue and outstanding as of the Effective Date. Accordingly, earnings per share reported for prior periods in the financial statements
have been restated to reflect the retroactive effect of the reverse stock split.

7

PMV CONSUMER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited)

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS (CONT.)

Following the Effective Date, and consistent with
the terms and conditions of the Warrant Agreement, the terms of the Company’s public and private warrants were proportionately adjusted
in the same ratio as the reduction in the number of shares of outstanding common stock, except any fractional shares resulting from such
adjustment are rounded up or down, as the case may be, to the nearest whole share. Correspondingly, the per share exercise price of such
warrants is increased in direct proportion to the Reverse Stock Split ratio such that the aggregate dollar amount payable for the purchase
of the shares subject to such securities remains unchanged; therefore, the 8,750,000 public warrants are exercisable into approximately
199,808 shares of Class A common stock and the 6,150,000 private placement warrants are exercisable into approximately 140,437 shares
of Class A common stock, each at a price of approximately $503.61 per share.  In furtherance of any prospective business opportunities,