Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 39

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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600 and interest earned on marketable securities held in the Trust Account of $989,876.
Changes in operating assets and liabilities used $339,500 of cash for operating activities.  

For the period from June 5, 2024 (inception)
through September 30, 2024, cash used in operating activities was $0. Net loss of $49,791 was affected by payment of formation costs
through promissory note of $8,081, payment of operation costs through promissory note of $15,648 and operating costs applied to prepaid
contributed by sponsor through promissory note of $26,000. Changes in operating assets and liabilities provided $62 of cash for operating
activities.  

As of September 30, 2025, we had marketable securities
held in the Trust Account of $115,989,876 (including approximately $989,876 of interest income) consisting of U.S. Treasury Bills with
a maturity of 185 days or less. We may withdraw interest from the Trust Account to pay taxes, if any. We intend to use substantially
all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less income taxes
payable), to complete our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration
to complete our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the
operations of the target business or businesses, make other acquisitions and pursue our growth strategies.  

As of September 30, 2025, we had cash of $452,101.
We intend to use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due
diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses
or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure,
negotiate and complete a Business Combination.

In order to fund working capital deficiencies
or finance transaction costs in connection with a Business Combination, the Sponsor, or certain of our officers and directors or their
affiliates may, but are not obligated to, loan us funds as may be required. If we complete a Business Combination, we would repay such
loaned amounts. In the event that a Business Combination does not close, we may use a portion of the working capital held outside the