Company: SPEG
Filing Date: 2025-08-25
Form Type: 10-Q
Source: 0002077096-25-000055
Chunk: 60

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-08-25
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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, 2025, the Company fully paid the $194,649 outstanding under the promissory note. Borrowings under this note are no
longer available.

Administrative Services Agreement

Commencing on the effective date of the Initial
Public Offering, on July 14, 2025, the Company entered into an agreement with the Sponsor or an affiliate to pay an aggregate of $10,000
per month for office space, utilities, and secretarial and administrative support. For the three and six months ended June 30, 2025, the
Company did not incur any fees for these services.

Related Party Loans

In order to finance transaction costs in connection
with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may,
but are not obligated to, loan the Company funds as may be required (the “Working Capital Loans”). If the Company completes
a Business Combination, the Company would repay the Working Capital Loans. In the event that a Business Combination does not close, the
Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds from
the Trust Account would be used to repay the Working Capital Loans. 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. As of June 30, 2025 (unaudited) and December 31, 2024, no such Working Capital
Loans were outstanding.

NOTE 6. COMMITMENTS AND CONTINGENCIES  

Risks and Uncertainties

The United States and global markets are
experiencing volatility and disruption following the geopolitical instability resulting from the ongoing Russia-Ukraine conflict and
the Israel-Hamas conflict. In response to the ongoing Russia-Ukraine conflict, the North Atlantic Treaty Organization (“NATO”)
deployed additional military forces to eastern Europe, and the United States, the United Kingdom, the European Union and other countries
have announced various sanctions and restrictive actions against Russia, Belarus and related individuals and entities, including the
removal of certain financial institutions from the Society for Worldwide Interbank Financial Telecommunication payment system. Certain
countries, including the United States, have also provided and may continue to provide military aid or other assistance to Ukraine
and to