Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 76

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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ISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited) 

Warrants

As of September 30, 2025, there were 3,250,000
Private Placement Warrants outstanding. At December 31, 2024, there were no Private Placement Warrants outstanding The Private Placement
Warrants, which include the Class B.1 Private Placement Warrants and the Class B.2 Private Placement Warrants, and the Class A
ordinary shares issuable upon exercise of the Private Placement Warrants, will not be transferable, assignable or salable until 30 days
after the completion of the initial Business Combination.

Each Class B.1 Private Placement Warrant
and Class B.2 Private Placement Warrant entitles the registered holder to purchase one Class A ordinary share at a price of
$11.50 per share, subject to adjustment, at any time commencing 30 days after the completion of the initial Business Combination,
provided that the Company has an effective registration statement under the Securities Act covering the Class A ordinary shares
issuable upon exercise of the respective warrants and a current prospectus relating to them is available (or the Company permits holders
to exercise their warrants on a cashless basis under the circumstances specified in the warrant agreement) and such shares are registered,
qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder. Pursuant to the
respective Class B.1 and Class B.2 warrant agreements, a warrant holder may exercise its warrants only for a whole number of
Class A ordinary shares. This means only a whole warrant may be exercised at a given time by a warrant holder. No fractional warrants
will be issued upon separation of the units and only whole warrants will trade. The warrants will expire five years after the completion
of the initial Business Combination.

The Company will not be obligated to deliver any Class A ordinary
shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement
under the Securities Act with respect to the Class A ordinary shares underlying the warrants is then effective and a prospectus relating
thereto is current, subject to the Company satisfying its obligations described below with respect to registration. No warrant will be
exercisable and the Company will not be obligated to issue a Class A