Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 117

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 117
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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
Trust Account to repay such loaned amounts but no proceeds from our Trust Account would be used for such repayment. Up to $1,500,000
of such Working Capital Loans may be converted into Class B.1 warrants of the post Business Combination entity at a price of $1.00 per
private warrant at the option of the lender. The units would be identical to the Private Placement Warrants.

21

In connection with the Company’s assessment
of going concern considerations in accordance with ASC 205-40, “Going Concern,” as of September 30, 202