Company: SPEG
Filing Date: 2025-08-25
Form Type: 10-Q
Source: 0002077096-25-000055
Chunk: 6

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-08-25
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 $2,000,000 of cash underwriting fee, $4,025,000 of deferred underwriting fee, and $446,835 of other offering costs.

The Company’s Business Combination must
be with one or more target businesses that together have a fair market value equal to at least 80% of the net balance in the Trust Account
(as defined below) (excluding the amount of deferred underwriting discounts held and taxes payable on the income earned on the Trust
Account) at the time of the signing an agreement to enter into a Business Combination. However, the Company will only complete a Business
Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding voting securities of the target
or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company
under the Investment Company Act of 1940, as amended (the “Investment Company Act”). There is no assurance that
the Company will be able to successfully effect a Business Combination.

Upon closing of the Initial Public Offering, on
July 16, 2025, an amount of $115,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units and the sale of the Private
Placement Warrants was placed in a Trust Account (the “Trust Account”) and may only be invested in U.S. government treasury
obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the
Investment Company Act, which invest only in direct U.S. government treasury obligations; the holding of these assets in this form
is intended to be temporary and for the sole purpose of facilitating the intended business combination. To mitigate the risk that might
be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer that the Company holds
investments in the Trust Account, the Company may, at any time (based on management team’s ongoing assessment of all factors related
to the potential status under the Investment Company Act), instruct the trustee to liquidate the investments held in the Trust Account
and instead to hold the funds in the Trust Account in cash or in an interest bearing demand deposit account at a bank. Except with respect
to interest earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the proceeds from
the Initial Public Offering