Financial Performance - For the three months ended September 30, 2025, the company reported a net loss of $967,044, which includes operating costs of $181,788 and a loss on derivative liability of $1,663,750, offset by interest income of $989,876 [118]. - Cash used in operating activities for the nine months ended September 30, 2025, was $339,500, with a net loss of $1,013,443 [123]. Initial Public Offering - The company generated gross proceeds of $115,000,000 from the Initial Public Offering of 11,500,000 Units at $10.00 per Unit, including the full exercise of the over-allotment option [121]. - The company incurred $6,471,835 in Initial Public Offering related costs, which included a cash underwriting fee of $2,000,000 and a deferred underwriting fee of $4,025,000 [122]. Assets and Cash Position - As of September 30, 2025, the company had marketable securities held in the Trust Account amounting to $115,989,876, which includes approximately $989,876 of interest income [125]. - As of September 30, 2025, the company had cash of $452,101 available for identifying and evaluating target businesses [126]. Future Plans and Concerns - The company plans to use substantially all funds in the Trust Account to complete its Business Combination and may use remaining proceeds for working capital [125]. - The company may need to raise additional capital through loans or investments to meet working capital needs, raising concerns about its ability to continue as a going concern [129]. Obligations - The company has a contractual obligation to pay $10,000 per month for office space and administrative support, which began on July 14, 2025 [131]. - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2025 [130].
Silver Pegasus Acquisition Corp Unit(SPEGU) - 2025 Q3 - Quarterly Report