Company: PMVC
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003340
Chunk: 224

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 224
---
 of such funds with respect to their warrants,
nor did they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such warrants.
Accordingly, the warrants may expire worthless.

The Private Warrants will be identical to the
Public Warrants underlying the Units sold in the Initial Public Offering, subject to certain limited exceptions. Additionally, the Private
Warrants will be exercisable for cash or on a cashless basis, at the holder’s option, and be non-redeemable so long as they are
held by the initial purchasers or their permitted transferees. If the Private Warrants are held by someone other than the initial purchaser
or its permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by such holders on the same basis
as the Public Warrants.

The below table outlines our capital structure
as of December 31, 2024 and 2023:

     Share Class      Shares Outstanding   Registered*  Class A common (fka Class C common)   0.10%   96   Restricted**  Class A common (fka Class C common)   73.07%   73,073   Total Class A Common Shares      73.17%   73,169                   Restricted**  Class A convertible common   —%   —   Restricted**  Class B convertible common   26.83%   26,831   Total Outstanding Shares      100.00%   100,000  

    *
    Registered shares are not listed, and thus are not freely tradeable.

    **
    Restricted shares are unregistered, are not freely tradable and are subject to individual legends and restrictions.

F-14

PMV CONSUMER ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024

NOTE 6. INCOME TAXES

The Company’s net deferred tax assets at
December 31, 2024 and 2023, are as follows: 

    Deferred tax asset 
    2024  
    2023 
  
    Organizational costs/Start-up expenses 
    $438,922  
    $401,781 
  
    Federal Net Operating Loss 
     —  
     —