Company: PMVC
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003340
Chunk: 149

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 149
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 redeemed from
each such holder, plus each such holder’s pro rata share of the 200,000 shares of Class C common stock held in the IPO Trust Account.
The pro rata share of the Class C common stock held in the Trust Account was calculated by dividing the number of Class A IPO Shares redeemed
from each such holder by the total number of Class A IPO Shares redeemed from all holders of Class A IPO Shares that elected to receive
stock. The amount of cash that would otherwise have been paid to holders who redeemed for cash (totaling approximately $42,424) was released
from the Trust Account and transferred to the Company. The Trust Account was terminated following the release of the cash and stock to
holders of Class A IPO Shares in complete liquidation of the assets held in trust. The 3,000,000 shares of Class A convertible common
stock owned by the Sponsor, were not redeemed and were expressly excluded from participating in, and were not otherwise entitled to, any
of the cash and stock held in the Trust Account. The Class A IPO Shares redeemed are no longer deemed to be outstanding and all rights
of the holders thereof as stockholders of the Company with respect to the Class A IPO Shares so redeemed have ceased. The Class C common
stock received by holders who elected to receive stock has not been listed on a securities exchange. Following the redemption, the Company
has outstanding 3,000,000 shares of Class A convertible common stock, 1,175,000 shares of Class B convertible common stock, 204,200 shares
of Class C common stock, 8,750,000 public warrants and 6,150,000 private placement warrants, as well as approximately $1,149,157 of cash
on hand available for working capital purposes.

On February 27, 2023, the Sponsor purchased the
204,200 shares of Class C common stock from the holder thereof, which were comprised of (i) 4,200 shares of Class C common stock, which
were issued on a one-for-one basis for the number of Class A convertible common stock of the Company previously redeemed from the holder
(as described above), and (ii) 200,000 shares of Class C common stock, which represents the holder’s pro rata share of the Class
C common stock that were held in the Trust Account (as described above), for an aggregate purchase price of $42,000.

On September 29, 2023, the Sponsor elected to