Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 79

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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 qualification under applicable state blue sky laws or the Company is unable to effect such registration
or qualification. The Company will use its best efforts to register or qualify such Ordinary Shares under the blue sky laws of the state
of residence in those states in which the Class B.1 Private Placement Warrants were offered by the Company in this offering. The
Company has established the last of the redemption criterion discussed above to prevent a redemption call unless there is at the time
of the call a significant premium to the warrant exercise price. If the foregoing conditions are satisfied and the Company issues a notice
of redemption of the Class B.1 Private Placement Warrants, each warrant holder will be entitled to exercise his, her or its Class B.1
Private Placement Warrant prior to the scheduled redemption date. However, the price of the Class A ordinary shares may fall below
the $18.00 redemption trigger price (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and
the like) as well as the $11.50 warrant exercise price after the redemption notice is issued.

The Class B.2 Private Placement Warrants
are not redeemable.

NOTE 5. RELATED PARTY TRANSACTIONS

Founder Shares

On June 28, 2024, the Sponsor made a capital
contribution of $25,000, or approximately $0.006 per share, for which the Company issued 4,312,500 founder shares to the sponsor. Subsequently,
on February 6, 2025, the Company, through share capitalization, issued the sponsor an additional 1,437,500 Class B ordinary shares as
bonus shares, bringing the aggregate number of founder shares to 5,750,000 Class B ordinary shares. On May 7, 2025, the Sponsor surrendered
1,916,667 founder shares leaving 3,833,333 Class B ordinary shares with a price per share of approximately $0.075 per share. All share
and per share data have been retrospectively presented. Up to 500,000 of the founder shares may be surrendered by the Sponsor for no consideration
depending on the extent to which the underwriters’ over-allotment is exercised. On July 16, 2025, the underwriters exercised their
over-allotment option in full as part of the closing of the Initial Public Offering. As such, the 500,000 founder shares are no longer
subject to forfeiture.

The Company’s