Company: PMVC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075638
Chunk: 10

Company: PMV Consumer Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 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.

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PMV CONSUMER ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 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 $503.61 per share.  In furtherance of any prospective business opportunities,
the Company may in the future seek to pursue a variety of capital raising initiatives.

On April 29, 2024, the Board of Directors of the
Company recommended, and the Company’s sole shareholder approved, an amendment to the Company’s Second Amended and Restated
Certificate of Incorporation (the “Amendment”) to (i) reduce the number of authorized shares of Class A common stock from
25,000,000 shares to 570,000 shares, (ii) reduce the number of authorized shares of Class B common stock from 10,000,000 shares to 230,000
shares, and (iii) reduce the number of authorized shares of preferred stock from 20,000,000 shares to 460,000 shares. The Company filed
the Amendment with the Secretary of State of the State of Delaware on April 30, 2024.

Liquidity and Going Concern

At June 30, 2025, the Company had cash and cash
equivalents of $1,085,485. The Company intends to use these funds primarily to identify and evaluate