Silver Pegasus Acquisition Corp Unit(SPEGU) - 2025 Q4 - Annual Report

Financial Performance - For the year ended December 31, 2025, the company reported a net income of $2,948, which was primarily due to interest earned on marketable securities held in the Trust Account amounting to $2,108,805, offset by a loss on derivative liability of $1,612,150 and transaction costs of $111,382[367]. - For the period from June 5, 2024, through December 31, 2024, the company reported a net loss of $50,041, entirely attributed to general and administrative expenses[368]. Marketable Securities - As of December 31, 2025, the company had marketable securities in the Trust Account totaling $117,108,805, which includes approximately $2,108,805 of interest income[372]. - The company intends to use substantially all funds in the Trust Account to complete its Business Combination and any remaining proceeds for working capital to finance operations of the target business[372]. Initial Public Offering - The company completed its Initial Public Offering on July 16, 2025, raising gross proceeds of $115,000,000 from the sale of 11,500,000 Units at $10.00 per Unit[369]. - 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[370]. Cash and Operational Needs - As of December 31, 2025, the company had cash of $378,794 available for operational activities and evaluating target businesses[373]. - The company may need to raise additional capital through loans or investments to meet working capital needs, and if a Business Combination is not completed by January 16, 2027, it will face mandatory liquidation[375][376]. - The company has no long-term debt or off-balance sheet arrangements as of December 31, 2025, and incurs a monthly fee of $10,000 for office space and administrative support[377][378]. Business Operations - The company has not engaged in any operations or generated revenues to date, with all activities focused on preparing for the Initial Public Offering and identifying a target company for a Business Combination[366].