Company: PMVC
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001213900-25-107610
Chunk: 81

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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 staggered classes for
election.  On November 2, 2023, the Company filed a Second Amended and Restated Certificate of Incorporation, dated November 1,
2023, with the State of Delaware.

Also,
the Board recommended, and the stockholders approved on September 29, 2023, an amendment to the Bylaws of the Company (the “Bylaws”)
to provide that, subject to applicable law, any action that is required or permitted to be taken by the stockholders of the Company at
any annual or special meeting of stockholders may be effected by written consent of stockholders in lieu of a meeting.  On November
2, 2023, the Company filed the Amended and Restated Bylaws with the State of Delaware.

On
March 12, 2024 (the “Effective Date”), the Reverse Stock Split was declared effective. As a result of the Reclassification
and the Reverse Stock Split, approximately 26,831 shares of Class B convertible common stock are in issue and outstanding and approximately
73,169 shares of Class A common stock are in issue and outstanding as of the Effective Date. Accordingly, earnings per share reported
for prior periods in the financial statements have been restated to reflect the retroactive effect of the reverse stock split.

7

PMV
CONSUMER ACQUISITION CORP.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

(Unaudited)

NOTE
1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS (CONT.)

Following
the Effective Date, and consistent with the terms and conditions of the Warrant Agreement, the terms of the Company’s public and
private warrants were proportionately adjusted in the same ratio as the reduction in the number of shares of outstanding common stock,
except any fractional shares resulting from such adjustment are rounded up or down, as the case may be, to the nearest whole share. Correspondingly,
the per share exercise price of such warrants is increased in direct proportion to the Reverse Stock Split ratio such that the aggregate
dollar amount payable for the purchase of the shares subject to such securities remains unchanged; therefore, the 8,750,000 public warrants
are exercisable into approximately 199,808 shares of Class A common stock and the 6,150,000 private placement warrants are exercisable
into approximately 140,437 shares of Class A common stock, each at a price of approximately $503