# EDGAR Filing Document

**Accession Number:** 0001861541
**File Stem:** 0001104659-23-005917
**Filing Date:** 2023-1
**Character Count:** 20745
**Document Hash:** 1bfcd577b5731f5a0c9b55e919c5f3f2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-005917.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0001104659-23-005917

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230123

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230123

**DATE AS OF CHANGE**: 20230123

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pegasus Digital Mobility Acquisition Corp.
- **CENTRAL INDEX KEY:** 0001861541
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 981596591
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40945
- **FILM NUMBER:** 23545331

**BUSINESS ADDRESS:**
- **STREET 1:** 260 MASON STREET
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830
- **BUSINESS PHONE:** 914-980-8737

**MAIL ADDRESS:**
- **STREET 1:** 260 MASON STREET
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830

?xml version="1.0" encoding="utf-8"?

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549**

**FORM 8-K**

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**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d)** 

**of the Securities Exchange Act of 1934** 

 **January 23, 2023**

**Date of Report (date of earliest event reported)**

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**Pegasus Digital Mobility Acquisition Corp.**

**(Exact name of Registrant as specified in its charter)** 

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| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-40945** | **98-1596591** |
| **(State or other jurisdiction of** <br> **incorporation or organization)** | **(Commission<br> File Number)** | **(I.R.S. Employer<br> Identification Number)** |

---

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| | |
|:---|:---|
| **71 Fort Street**<br> **George Town**<br> **Grand Cayman**<br> **Cayman Islands** | **KY1-1106** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

 **+1345 769-4900**

**(Registrant's telephone number, including area code)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading <br> Symbols** | **Name of each exchange <br> on which registered** |
| **Units, each consisting of one Class A Ordinary Share and one-half of one redeemable Warrant** | **PGSS.U** | **New York Stock Exchange** |
| **Class A Ordinary Shares, par value $0.0001 per share** | **PGSS** | **New York Stock Exchange** |
| **Redeemable Warrants, each exercisable for one Class A Ordinary Share at an exercise price of $11.50 per share** | **PGSS.WS** | **New York Stock Exchange** |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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| | |
|:---|:---|
| **Item 2.03** | **Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.** |

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On January 23, 2023, the Company issued a non-convertible unsecured promissory note (the "Extension Note") in the principal amount of $2,250,000 to Pegasus Digital Mobility Sponsor LLC, a Cayman Islands limited liability company (the "Sponsor"). The Sponsor has started the process to deposit the funds into the Company's Trust Account maintained with Continental Stock Transfer & Trust Company in connection with the Extension (as defined below) for the Company. The Extension Note was issued in connection with the decision by the Company's board of directors to exercise the first extension option in accordance with the Company's amended and restated memorandum and articles of association and to extend the date by which the Company must consummate a business combination transaction from January 26, 2023 to April 26, 2023 (i.e., for a period of time ending 18 months after the consummation of the Company's initial public offering).

The Extension Note bears no interest and is repayable in full upon the consummation of a business combination by the Company. If the Company does not consummate a business combination, the Extension Note will not be repaid and all amounts owed under the Extension Note will be forgiven except to the extent that the Company has funds available to it outside of its Trust Account.

A copy of the Extension Note is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The disclosure as set forth in this Item 2.03 is intended to be a summary only and is qualified in its entirely by reference to the Extension Note.

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| | |
|:---|:---|
| **Item 8.01** | **Other Events.** |

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On January 23, 2023, the Company issued a press release to announce the extension of the period of time the Company has to consummate its proposed transaction until April 26, 2023 (the "Extension"). A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and incorporated herein by reference.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits** |

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| | |
|:---|:---|
| **Exhibit**<br> **Number**<br>|  |
| [10.1](tm233820d1_ex10-1.htm) | [Promissory Note for Extension Payment](tm233820d1_ex10-1.htm) |
| [99.1](tm233820d1_ex99-1.htm) | [Press Release dated January 23, 2023](tm233820d1_ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| Dated: January 23, 2023 | **Pegasus Digital Mobility Acquisition Corp.** | **Pegasus Digital Mobility Acquisition Corp.** |
|  | By: | /s/ F. Jeremey Mistry<br>|
|  | Name: | F. Jeremey Mistry |
|  | Title: | Chief Financial Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

THIS PROMISSORY NOTE ("**NOTE**") HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "**SECURITIES ACT**"). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE MAKER THAT SUCH REGISTRATION IS NOT REQUIRED.

PROMISSORY NOTE

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| | |
|:---|:---|
| &nbsp;&nbsp;Principal Amount: $2,250,000 | &nbsp;&nbsp;Dated as of January 23, 2023 |

---

Pegasus Digital Mobility Acquisition Corp., a Cayman Islands exempted company (the "**Maker**"), promises to pay to the order of Pegasus Digital Mobility Sponsor LLC, a Cayman Islands limited liability company, or its registered assigns or successors in interest (the "**Payee**"), the principal sum of two million two hundred and fifty thousand U.S. dollars ($2,250,000) or such lesser amount as shall have been advanced by the Payee to the Maker and shall remain unpaid under this Note on the Maturity Date (as defined below) in lawful money of the United States of America, on the terms and conditions described below. All payments on this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this Note.

1. **Principal**. The entire unpaid principal balance of this Note shall be payable on the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) December 31, 2023, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) the date on which the Maker consummates an initial
merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses
or assets (a "**Business Combination**") (such earlier date, the "**Maturity Date** ").

The unpaid principal balance of this Note may be prepaid at any time. The Payee understands that if a Business Combination is not consummated, this Note will not be repaid and all amounts owed hereunder will be forgiven except to the extent that the Maker has funds available to it outside of its Trust Account (as defined below). Under no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder.

2. **Interest**. No interest shall accrue on the unpaid principal balance of this Note.

3. **Application of Payments**. All payments shall be applied first to payment in full of any costs incurred
in the collection of any sum due under this Note, including (without limitation) reasonable attorney's fees, then to the payment
in full of any late charges and finally to the reduction of the unpaid principal balance of this Note.

4. **Events of Default**. The following shall constitute an event of default (an "**Event of Default** "):

4.1. **Failure to Make Required Payments**. Failure by the Maker to pay the principal amount due pursuant
to this Note within five (5) business days of the date specified above.

4.2. **Voluntary Bankruptcy, Etc**. The commencement by the Maker of a voluntary case under any applicable
bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or taking possession
by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of the Maker or for any substantial
part of its property, or the making by it of any assignment for the benefit of creditors, or the failure of the Maker generally to pay
its debts as such debts become due, or the taking of corporate action by the Maker in furtherance of any of the foregoing.

4.3. **Involuntary Bankruptcy, Etc**. The entry of a decree or order for relief by a court having jurisdiction
in the premises in respect of the Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing
a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of the Maker or for any substantial part of its
property, or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect
for a period of 60 consecutive days.

5. **Remedies**.

5.1. Upon the occurrence of an Event of Default specified in Section 4.1 hereof, the Payee may, by written
notice to the Maker, declare this Note to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all
other amounts payable hereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any
kind, all of which are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

5.2. Upon the occurrence of an Event of Default specified in Sections 4.2 or 4.3, the unpaid principal balance
of this Note, and all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all
cases without any action on the part of the Payee.

6. **Waivers**. The Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment
for payment, demand, notice of dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections
in any proceedings instituted by the Payee under the terms of this Note, and all benefits that might accrue to the Maker by virtue of
any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property,
from attachment, levy or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time
for payment; and the Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any
writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by the Payee.

7. **Unconditional Liability**. The Maker hereby waives all notices in connection with the delivery, acceptance,
performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard
to the liability of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or
modification granted or consented to by the Payee, and consents to any and all extensions of time, renewals, waivers, or modifications
that may be granted by the Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers,
guarantors, or sureties may become parties hereto without notice to the Maker or affecting the Maker's liability hereunder.

8. **Notices**. All notices, statements or other documents which are required or contemplated by this
Note shall be in writing and delivered:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) personally or sent by first class registered or certified mail or overnight courier service to the address
most recently provided to such party or such other address as may be designated in writing by the recipient party,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) by facsimile to the number most recently provided to such party or such other fax number as may be designated
in writing by the recipient party, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) by electronic mail, to the electronic mail address most recently provided to such party or such other
electronic mail address as may be designated in writing by the recipient party.

Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

9. **Construction**. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS THEREOF. Any proceeding arising out of or relating to the Note shall be
heard and determined exclusively in the U.S. District Court for the Southern District of New York or, if that court does not have subject
matter jurisdiction, in any state court located in the City and County of New York.

10. **Severability**. Any provision contained in this Note which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating
the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction.

11. **Trust Waiver**. Notwithstanding anything herein to the contrary, the Payee hereby waives any and
all right, title, interest or claim of any kind (the "**Claim**") in or to any distribution of or from the trust account
(the "**Trust Account**") in which the proceeds of the initial public offering which was completed in October 2021 (the
 "**IPO**") (including the deferred underwriters discounts and commissions) and the proceeds of the sale of the warrants issued
in a private placement which was completed simultaneously with the consummation of the IPO are deposited, as described in greater detail
in the registration statement and prospectus filed with the U.S. Securities and Exchange Commission in connection with the IPO, and hereby
agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

12. **Amendment; Waiver**. Any amendment hereto or waiver of any provision hereof may be made with, and
only with, the written consent of the Maker and the Payee.

13. **Assignment**. No assignment or transfer of this Note or any rights or obligations hereunder may be
made by any party hereto (by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted
assignment without the required consent shall be void.

[Signature page follows]

IN WITNESS WHEREOF, the Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first above written.

PEGASUS DIGITAL MOBILITY ACQUISITION CORP.

a Cayman Islands exempted company

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| | |
|:---|:---|
| By | /s/ F. Jeremey Mistry |
| Name: | F. Jeremey Mistry |
| Title: | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**Pegasus Digital Mobility Acquisition Corp. Announces the Three-Months Extension of the Combination Period**

GREENWICH, CT (January 23, 2023) -- Pegasus Digital Mobility Acquisition Corp. (NYSE: PGSS.U) (the "Company"), a special purpose acquisition company founded by Strategic Capital Fund Management, LLC ("Strategic Capital"), today announced that it has funded the trust account maintained with Continental Stock Transfer & Trust Company with a $2,250,000 payment for the first three-month extension period, by which it extended the date by which the Company must consummate a business combination until April 26, 2023.

In addition, on January 23, 2023, the Company extended a working capital promissory note to Strategic Capital for $2,250,000. The promissory note is non-interest bearing.

**FORWARD-LOOKING STATEMENTS**

This press release contains statements that constitute "forward-looking statements." All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the "Risk Factors" section of the Company's registration statement and final prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

**About Pegasus Digital Mobility Acquisition Corp.**

The Company is a newly-incorporated, blank check company incorporated as a Cayman Islands exempted entity. The Company was founded by Strategic Capital, an investment management organization focused on digital economy investments, and the Company is led by Dr. Sir Ralf Speth, F. Jeremey Mistry, and Dr. Stefan Berger. The Company is a new special purpose acquisition company formed for the purpose of effecting a business combination with one or more businesses. While the Company may pursue an initial business combination target in any business, industry, sector or geographical location, it intends to focus its search on target businesses within the next-generation transportation sector with exposure to energy transformation and digital mobility tailwinds, particularly in the European market. The Company believes this business sector is in the early stages of a generational growth trend that is accelerating as a result of energy transformation through the rise of zero emission transportation, as well as the digitization of mobility through artificial intelligence, wireless connectivity and software applications.

**CONTACT**

Robert Bruce

Chief Marketing Officer

Strategic Capital Fund Management, LLC

rbruce@scfundmanagement.com