Silver Pegasus Acquisition Corp Rights.

Silver Pegasus Acquisition Corp Rights. (SPEG), a Cayman Islands blank check company formed on June 5, 2024, reported net income of $3K for FY 2025 ended December 31, 2025, compared to a net loss of $50K for the stub period from inception through December 31, 2024. The modest profit resulted from $2.1M interest earned on marketable securities held in the Trust Account, yielding total other income net of $385K, which offset a $382K operating loss, $1.6M loss on derivative liability, and $111K IPO transaction costs. No operating revenues were generated, as activities were limited to IPO completion and business combination search. On July 16, 2025, the Company raised $115M gross proceeds from 11,500,000 units at $10 per unit (including over-allotment), plus $3.2M from private placement warrants. Balance sheet reflects $117.6M total assets, with $117.1M in Trust Account at ~$10.18 per redeemable share and $379K cash outside trust. Liabilities total $8.5M, including $4.0M deferred underwriting fee, with shareholders' deficit of -$7.9M. Net cash used in operations was -$413K, offset by financing inflows. The Company focuses on technology/semiconductor targets with $200-500M enterprise value, targeting completion by January 16, 2027, amid going concern doubts due to liquidity needs.

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