Company: SPEG
Filing Date: 2025-08-25
Form Type: 10-Q
Source: 0002077096-25-000055
Chunk: 53

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-08-25
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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years
beginning after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-07 on January 1, 2025.

Management does not believe that any other recently
issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial
statement.

NOTE 3. INITIAL PUBLIC OFFERING

Pursuant to the Initial Public Offering, on July
16, 2025, the Company sold 11,500,000 Units at a purchase price of $10.00 per Unit, which includes the full exercise by the underwriters
of their over-allotment option in the amount of 1,500,000 Units, generating gross proceeds of $115,000,000. Each Unit consists of one
Class A ordinary share and one right to receive one-tenth of one Class A ordinary share. Ten rights entitle the holder to receive
one Class A ordinary share.

Rights

Except in cases where the Company is not the
surviving Company in a business combination, each holder of a right will automatically receive one-tenth of one Class A ordinary
share upon consummation of the initial Business Combination, even if the holder of a public right converted all Class A ordinary
shares held by them or it in connection with the initial Business Combination or an amendment to the amended and restated memorandum
and articles of association with respect to the pre-Business Combination activities. As a result, holders must hold ten rights to receive
one Class A ordinary share at the closing of the initial Business Combination. In the event the Company will not be the surviving
Company upon completion of the initial Business Combination, each holder of a right will be required to affirmatively convert its rights
in order to receive the one-tenth of a share underlying each right upon consummation of the Business Combination. No additional consideration
will be required to be paid by a holder of rights in order to receive its additional Class A ordinary shares upon consummation of
an initial Business Combination. The Class A shares issuable upon conversion of the rights will be freely tradable (except to the
extent held by affiliates). If the Company enters into a definitive agreement for a Business Combination in which the Company will not
be the surviving entity, the definitive agreement will provide for the holders of rights to receive the same per share consideration
the holders of the Class A ordinary share will receive in the transaction