SPEG SEC filings, in plain English
Everything Silver Pegasus Acquisition Corp. has filed with the SEC that we hold — 40 filings, newest first, 38 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
The feed
live EDGAR captureNew filings appear here within minutes of hitting EDGAR; summaries follow once the pipeline has read them.
What changed: Quarterly report on Form 10-Q for SPEG (Silver Pegasus Acquisition Corp.), a pre-deal SPAC that completed its IPO in July 2025 and is searching for a target. Trust value rose to $119,184,230 from $117,108,805 (redemption value ~$10.36/share). Net income of $976,280 for six months vs. net loss of $46,399 in prior period. Cash burn from operations was $218,931, reducing cash outside trust to $159,863. Derivative liabilities on public rights and private warrants increased to $3,220,000 and $1,913,375, respectively, driving a loss on those instruments of $815,900. The issuer states in its going-concern disclosure that failure to complete a business combination by January 16, 2027 will trigger mandatory liquidation, and that it may need additional loans from sponsor. Why it matters: Redemption deadline is January 16, 2027 (18 months from IPO). The trust's interest accretion is increasing the per-share value (now ~$10.36). The issuer flagged substantial doubt about ability to continue as a going concern absent a deal. The SPAC is still searching and has not announced a target; no substantive discussions with any target are disclosed. The derivative-liability adjustments suggest the market-implied probability of a deal closing has moved.
What changed vs 2026-05-15trust $118.1M → $119.2M +1%trust account, going-concern doubt, sponsor loans outstanding +11 moved · 3 with no prior record of ours
- Trust account
- $118.1M$119.2M
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $62K · unchanged
- Redeemable shares
- 11.5M · unchanged
SpacBrain reads this as $1,045,695 was added to the trust between the two filings.
The clause …“97,256 147,763 Total Current Assets 257,119 526,557 Marketable securities held in Trust Account 119,184,230 117,108,805 Long-term prepaid insurance ― 4,013 Total Assets $ 119,441,349 $ 117,639,375 Liabilities, Class A Ordinary”…
The clause …“Company. The Company’s liquidity condition and mandatory liquidation raise substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year after the date that the accompanying”…
The clause …“or the closing of the Initial Public Offering. The Company fully paid the $ 62,384 outstanding under the promissory note. As of June 30, 2026 and December 31, 2025, the Company had $ 0 , outstanding borrowings under the promissory”…
The clause …“issued or outstanding as of June 30, 2026 and December 31, 2025 (excluding 11,500,000 shares subject to possible redemption) — — Class B ordinary shares, $ 0.0001 par value; 50,000,000 shares authorized; 3,833,333 shares issued and”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Quarterly report (Form 10-Q) for the three months ended March 31, 2026, filed by Silver Pegasus Acquisition Corp., a SPAC still searching for a business combination target. Trust account balance increased to $118.1 million (from $117.1 million at year-end 2025), with per-share redemption value rising to approximately $10.27 (from $10.18) due to $1,029,730 in interest income. Net income of $1,004,547 for the quarter, compared to a net loss of $23,562 in the prior-year period. No target identified or substantive discussions initiated. Cash outside trust fell to $237,393 from $378,794. Going concern disclosure repeated. No extension of the January 16, 2027 deadline was adopted. No underwriter working capital loans drawn. No changes to risk factors. Why it matters: The trust per-share value continues to accrete, affecting the redemption price for public shareholders. The SPAC has less than nine months remaining to announce and close a business combination before mandatory liquidation; the going concern warning underscores the urgency. The decline in working capital outside trust may pressure the sponsor to provide additional loans if a deal is pursued. The absence of any target discussions indicates the search remains in early stages.
What changed vs 2025-11-14trust $116.0M → $118.1M +2%sponsor loan $195K → $62Ktrust account, sponsor loans outstanding, going-concern doubt +12 moved · 2 with no prior record of ours
- Trust account
- $116.0M$118.1M
- Sponsor loans outstanding
- $195K$62K
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 11.5M · unchanged
SpacBrain reads this as $2,148,659 was added to the trust between the two filings.
The clause …“157,954 147,763 Total Current Assets 395,347 526,557 Marketable securities held in Trust Account 118,138,535 117,108,805 Long-term prepaid insurance ― 4,013 Total Assets $ 118,533,882 $ 117,639,375 Liabilities, Class A Ordinary”…
SpacBrain reads this as $132,265 of sponsor debt has come off.
The clause …“or the closing of the Initial Public Offering. The Company fully paid the $ 62,384 outstanding under the promissory note. As of March 31. 2026 and December 31, 2025, the Company had $ 0 , outstanding borrowings under the promissory”…
The clause …“Company. The Company’s liquidity condition and mandatory liquidation raise substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year after the date that the accompanying”…
The clause …“were no shares of Class A ordinary shares issued or outstanding, excluding 11,500,000 shares subject to possible redemption. 14 SILVER PEGASUS ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31. 2026 (Unaudited) Class”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Annual report on Form 10-K for the fiscal year ended December 31, 2025. This is the first 10-K filed by Silver Pegasus Acquisition Corp. since its July 2025 IPO. The filing reports that the SPAC completed its IPO in July 2025, raising $115 million (including full exercise of the over-allotment), and simultaneously completed a $3.25 million private placement of warrants. As of December 31, 2025, the company held $117,108,805 in the trust account (including $2,108,805 in interest income), had $378,794 in cash outside of trust, and reported a net income of $2,948 for the year. The filing identifies a mandatory liquidation deadline of January 16, 2027 (18 months from closing), with a going concern qualification due to this deadline. The company reports it has not yet selected any business combination target and has not initiated substantive discussions with any target. Why it matters: This filing confirms the trust value is approximately $10.18 per share as of year-end, above the $10.00 IPO price. The deadline for a deal is January 16, 2027. The sponsor (SilverLode Capital LLC) holds 3,833,333 founder shares (25% of outstanding), purchased for approximately $0.0075 per share. The CEO, Cesar Johnston, was previously CEO of Energous Corp., and the filing notes his involvement with KINS Technology Group SPAC where 99.3% of public shares were redeemed at its business combination. The company's stated focus is technology/semiconductors with enterprise value targets of $200-500 million, but no target has been identified. The filing includes risk factor disclosure about potential CFIUS review and notes the company is an 'emerging growth company' with extended transition period for accounting standards.
What changed: A Schedule 13G/A amendment reporting beneficial ownership of securities in Silver Pegasus Acquisition Corp. by Bank of Montreal and its affiliate entities. The filing attributes a beneficial ownership position in SPEG to Bank of Montreal, BANK OF MONTREAL HOLDING INC., and BMO NESBITT BURNS INC. According to the provided text, no information bearing on redemption deadlines, trust value, extensions, deal progress, or sponsor conduct is disclosed. Furthermore, the excerpt contains no substantive claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel. Why it matters: As a standard institutional holdings update, this filing reflects routine compliance reporting rather than developments tied to the SPAC’s business combination timeline or capital structure. Without accompanying schedules detailing share counts, acquisition dates, or investment purpose, it does not signal changes to the redemption calendar, affect trust account tracking, or indicate sponsor activity. Investors tracking structural milestones should await subsequent 8-K filings, preliminary proxy materials, or amended 13D/G reports that specifically address acquisition targets or financing events.
What changed: Quarterly report (Form 10-Q) for Silver Pegasus Acquisition Corp. for the quarter ended September 30, 2025, the first such report since its IPO on July 16, 2025. The SPAC completed its IPO on July 16, 2025, raising $115 million in trust (now $115,989,876 after interest). It recognized derivative liabilities for public rights ($2,875,000) and private warrants ($1,494,075), incurred $6.5 million in transaction costs, and reported operating expenses of $228,187 for the nine months. No business combination target has been identified or discussed. The company disclosed a going concern uncertainty if a deal is not completed within the 18-month window (by January 2027). Net loss for the quarter was $967,044. Why it matters: This filing establishes the SPAC's baseline post-IPO financial condition. The trust value per share is approximately $10.09 before any redemptions. The going concern disclosure underscores the need for a timely business combination. Investors can track cash burn ($452,101 outside trust) and monitor derivative obligations. No deal progress means all attention remains on future announcements.
What changed vs 2025-08-25going concern APPEAREDgoing-concern doubt, trust account, redeemable shares +11 moved · 3 with no prior record of ours
- Going-concern doubt
- not statedstated
- Trust account
- not previously extracted$116.0M
- Redeemable shares
- not previously extracted11.5M
- Sponsor loans outstanding
- $195K · unchanged
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“acceptable terms, if at all. The Company’s liquidity condition raises substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year after the date that the accompanying”…
The clause …“176,396 298 Total Current Assets 628,497 298 Cash and marketable securities held in Trust Account 115,989,876 — Long-term prepaid insurance 28,088 — Deferred offering costs — 208,620 Total Assets $ 116,646,461 $ 208,918 Liabilities,”…
The clause …“were no shares of Class A ordinary shares issued or outstanding, excluding 11,500,000 shares subject to possible redemption. At December 31, 2024, there were no Class A ordinary shares issued or outstanding. Class B Ordinary Shares —”…
The clause …“the promissory note. As of September 30, 2025, the Company fully paid the $ 194,649 outstanding under the promissory note. Borrowings under this note are no longer available. Administrative Services Agreement Commencing on the”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: A Schedule 13G/A amendment consisting solely of Exhibit A, a routine compliance exhibit known as a Joint Filing Agreement filed under SEC Rule 13d-1(k). This document is a procedural administrative instrument. The listed Harraden Circle investment vehicles, their general partners, and Frederick V. Fortmiller, Jr. formally agreed to submit the underlying Schedule 13G statement jointly on behalf of all named parties. The filing contains no amendments to beneficial ownership percentages, no updates to redemption calendars, no adjustments to trust account balances or distributions, no announcement or status update on a target search or business combination, and no disclosures regarding sponsor conduct, litigation, or corporate strategy. Per the signature block, Mr. Fortmiller, Jr. identifies himself as Managing Member for multiple Harraden Circle management entities, but these titles are internal organizational descriptions rather than operational commitments. Why it matters: For investors monitoring redemption deadlines, trust value, extension mechanisms, deal progression, or sponsor behavior, this filing delivers no operative information. It is a standard SEC-mandated wrapper required when multiple affiliated holders elect to consolidate their beneficial ownership reporting into a single submission. It confirms that Harraden Circle-affiliated entities maintain a registrable position in SPEG, but it does not alter the SPAC’s timeline, capital structure, acquisition pursuit, or shareholder rights.
What changed: SEC Schedule 13G beneficial ownership report. This filing identifies Bank of Montreal, BANK OF MONTREAL HOLDING INC., and BMO NESBITT BURNS INC. as reporting persons. Bearing on the requested mechanics, it discloses nothing regarding redemption deadlines, trust per-share value, extension mechanisms, merger deal progress, or sponsor conduct. Institutional 13G reports track equity position crossings and carry no regulatory mechanism to alter a SPAC’s redemption calendar or business combination timeline. Why it matters: Substantively, the provided excerpt contains zero claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel. It also contains absolutely no numerical figures—no share totals, percentages, acquisition dates, or price points. As a routine compliance exhibit triggered by aggregate holding thresholds rather than corporate action, it provides no new operational intelligence for investors monitoring SPEG’s SEARCHING phase.
What changed: SEC Schedule 13G beneficial ownership report. This document identifies Glazer Capital, LLC and Paul J. Glazer as the reporting beneficial owners but provides no updated share quantities, ownership percentages, transaction dates, or amended purpose clauses. It reports no alterations to redemption deadlines, trust account mechanics, extension voting procedures, business combination milestone tracking, or sponsor governance actions. Per the required substance review, the filing makes no attributable claims concerning customer concentration, revenue figures, total addressable market projections, pivot strategies, proprietary technology stacks, partnership frameworks, civil or regulatory litigation, or executive leadership changes. Why it matters: Because the submission functions strictly as a baseline regulatory ownership disclosure devoid of transactional detail or strategic intent language, it does not trigger liquidity events, adjust trust distribution formulas, modify statutory liquidation calendars, or signal capital commitment escalations. The absence of percentage threshold crossings, pledge disclosures, or acquisition directives means existing redemption windows, warrant conversion paths, and sponsor fiduciary parameters remain operationally static. Portfolio managers tracking deal velocity should monitor subsequent Schedule 13G/A amendments, Regulation FD disclosures, or definitive business combination agreements that would formally update target qualification criteria and capital deployment timelines.
What changed: Exhibit A Joint Filing Agreement attached to an amended Schedule 13G beneficial ownership report. The filing states that Linden Capital L.P., Linden GP LLC, Linden Advisors LP, and Siu Min Wong coordinated to submit a single amended Schedule 13G on behalf of all parties pursuant to Rule 13d-1(k), dated November 11, 2025. It attributes execution authority to Saul Ahn acting as general partner, general counsel, and attorney-in-fact under a June 10, 2019 power of attorney previously referenced in connection with Haymaker Acquisition Corp II. The excerpt discloses no updated share counts, cost bases, acquisition dates, or percentage ownership shifts relative to the prior statement. Why it matters: Nothing in this attachment bears on redemption deadlines, trust value, extensions, deal progress, or sponsor conduct. According to the document, it is purely a procedural compliance exhibit establishing filing protocol for consolidated equity reporting. Because the accompanying Schedule 13G/A statement page containing actual holdings, acquisition purposes, or potential plans is not included, the filing cannot inform investors about SPEG’s SEARCHING timeline, trust account composition, or merger negotiation status. It carries no material impact on SPAC mechanics or investment decisioning.
What changed: An 8-K current report and accompanying press release announcing the scheduled separation and distinct trading commencement of Silver Pegasus Acquisition Corp.’s Class A ordinary shares and public rights. The filing reports a purely mechanical listing change with no alteration to the specified investor protection mechanics: redemption deadlines, trust account values, extension provisions, deal progress, and sponsor conduct are entirely unaddressed and unchanged in this submission. Structurally, the Company’s press release announced that on or about September 8, 2025, holders of public units (trading as 'SPEGU') may elect to separate them into Class A ordinary shares ('SPEG') and rights ('SPEGR'). Each unit consists of one Class A ordinary share and one right entitling the holder to receive one-tenth of one Class A ordinary share upon consummation of an initial business combination. The release specifies that only whole rights will trade, with no fractional rights issued. Unseparated units continue trading under 'SPEGU'. Separation requires holders to direct their brokers to contact Continental Stock Transfer & Trust Company. These units originated from an underwritten offering completed on July 16, 2025, with Roth Capital Partners LLC acting as sole book-running manager. Why it matters: This submission marks a routine post-offering lifecycle transition that shifts liquidated exposure from bundled units to unbundled shares and derivative-like rights prior to any target announcement. It does not dictate shareholder voting windows, cash-out triggers, or mechanical adjustments to the trust pool. Regarding corporate fundamentals, the press release characterizes the registrant as a Cayman Islands exempted blank check company formed to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination across 'any industry, sector or geographic location,' while expressly noting a strategic focus on 'semiconductors and systems solutions.' Chief Executive Officer Cesar Johnston is identified as the primary contact and executed the signature block. The filing cross-references a registration statement/prospectus declared effective by the SEC on July 14, 2025.
What changed: 10-Q quarterly report filed by Silver Pegasus Acquisition Corp., a blank check company that is still searching for a business combination target. The 10-Q covers the period before the SPAC's IPO. On July 16, 2025, after the quarter ended, the SPAC consummated its IPO of 11,500,000 units at $10.00 per unit (including the full over-allotment), generating $115,000,000 in gross proceeds. Simultaneously, it sold 3,250,000 Private Placement Warrants at $1.00 per warrant for $3,250,000. $115,000,000 was placed in the trust account ($10.00 per public share). The 18-month deadline to complete a business combination runs from July 16, 2025 (i.e., January 16, 2027). The sponsor's promissory note of $179,649 was fully paid off with IPO proceeds. The 500,000 founder shares subject to forfeiture became unconditional. Why it matters: This is the definitive filing establishing the trust pool ($115,000,000 at $10.00 per share), the 18-month deadline, the warrant structure and the sponsor economics. Investors can now track the trust against this baseline. The company has no identified target yet, so the clock is now running.
What changed: A Joint Filing Agreement (Exhibit A) accompanying a Schedule 13G beneficial ownership report, explicitly referencing the Shares of Pyrophyte Acquisition Corp. II. Per the filing, Harraden Circle Investments, LLC; Harraden Circle Investors GP, LP; Harraden Circle Investors GP, LLC; Harraden Circle Investors, LP; Harraden Circle Special Opportunities, LP; Harraden Circle Strategic Investments, LP; Harraden Circle Concentrated, LP; and Frederick V. Fortmiller, Jr. have agreed to file jointly under Rule 13d-1(k), with Fortmiller designated as the Managing Member signatory across all vehicles. The document contains no adjustments to SPEG’s redemption deadlines, trust account balance or valuation, extension proposals, merger progress, or sponsor conduct disclosures. It explicitly names Pyrophyte Acquisition Corp. II rather than SPEG. Why it matters: The exhibit formalizes a consolidated reporting bloc for the Harraden Circle family of funds, which clarifies how beneficial ownership thresholds and future disclosure triggers will be calculated across the affiliated vehicles. While the filing holds no data on redemption mechanics or trust value, identifying a unified blockholder group is critical for tracking potential voting coalitions, takeover signaling, or sponsor alignment. Because the text explicitly cites Pyrophyte Acquisition Corp. II, investors should verify the correct target company before mapping this position to SPEG. Filing reference [0000950170-25-098194] was executed on July 24, 2025.
What changed: A Form 8-K Current Report and accompanying audited balance sheet with comprehensive notes, disclosing the consummation of an initial public offering and concurrent private placement. As confirmed in the report signed by President and Chief Executive Officer Cesar Johnston, the company consummated its IPO on July 16, 2025, selling 11,500,000 units at $10.00 per unit for $115,000,000 in gross proceeds, with the full exercise of a 1,500,000-unit over-allotment option. The sponsor purchased 2,000,000 private warrants and the underwriter representative purchased 1,250,000 private warrants at $1.00 each, generating $3,250,000. Per the audited balance sheet and notes, $115,000,000 was deposited into a trust account as of July 16, 2025. The filing establishes an 18-month completion window from the IPO closing date before mandatory public share redemption occurs if no business combination is achieved. Management states that as of July 16, 2025, the company had not selected a target and had not engaged in any substantive discussions regarding an initial business combination. Founder equity stands at 3,833,333 Class B ordinary shares after the sponsor surrendered 1,916,667 shares upon full over-allotment exercise; these shares convert one-for-one to Class A ordinary shares at business combination, carry waived redemption rights, and remain locked until six months post-combination or a $12.00 closing price trigger. Sponsor conduct commitments include waiving founder share liquidation rights if a deal fails, indemnifying the trust against third-party claims that reduce trust assets below the lesser of $10.00 per public share or the actual per-share trust amount, and paying the sponsor $10,000 monthly for administrative services starting July 14, 2025. Working capital loans up to $1,500,000 remain available and convertible to Class B.1 warrants at $1.00 per warrant. Audited notes disclose that public rights are classified as a derivative liability valued at $1,930,850 and private warrants as a derivative liability valued at $774,475, with management utilizing an estimated probability of business combination of 17.00% and 8.16% volatility in their Monte Carlo and Black-Scholes-Merton valuation models. Why it matters: This filing fixes the trust deposit at $115,000,000 and sets the hard 18-month deadline for deal execution or liquidation, directly dictating the calendar for any redemption solicitations or extension proposals. The confirmation of zero merger talks and fully exercised underwriting options signals maximum capital accumulation with unchanged search timelines, requiring investors to factor in only interest accrual and administrative burn until a catalyst emerges. The fixed founder share count of 3,833,333 locks in a mathematical denominator for future pro forma calculations, while the disclosed derivative pricing parameters (17.00% combination probability, 8.16% volatility) provide explicit valuation assumptions for public rights and warrants absent active trading data. Although the company notes it has not independently verified the sponsor’s capacity to satisfy the indemnification promise, the contractual alignment between founder economics, working capital loan conversion rights, and the per-share trust floor outlines the precise incentive structure guiding the next 18 months of capital deployment.
What changed: Schedule 13G Joint Filing Agreement (Exhibit A to a Beneficial Ownership Report). This excerpt is exclusively the Joint Filing Agreement executing Rule 13d-1(k) coordination among eight Harraden Circle investment vehicles and principal Frederick V. Fortmiller, Jr. It confirms they are treating their combined SPEG positions as a single reporting unit. No shifts in redemption deadlines, trust account mechanics, extension proposals, or target acquisition milestones are referenced, as the operative Sections 2 through 6 of the Schedule 13G—which would disclose exact share counts, acquisition dates, sources of funds, stated transaction purposes, and underlying securities—are omitted from this text. Why it matters: Establishes a co-managed, concentrated investor cohort under common control via Managing Member Frederick V. Fortmiller, Jr., which clarifies potential voting bloc alignment and collective influence over SPEG’s future shareholder votes on business combinations or charter amendments. Because the document contains only the signatory authorization page, it does not alter redemption calendars, modify assumed per-share trust distributions, or indicate sponsor conduct deviations; the Harraden Circle entities have not yet disclosed purchase prices, aggregate stakes, or whether they intend to participate in or oppose upcoming redemption windows or extension votes.
What changed: A Joint Filing Agreement (Exhibit A) attached to a Schedule 13G beneficial ownership report. According to the agreement dated July 21, 2025, there are no amendments, notices, or operational updates pertaining to redemption deadlines, trust account balances, extension clauses, target acquisition progress, or sponsor governance. The text merely records the mutual consent of Linden Capital L.P., Linden GP LLC, Linden Advisors LP, and Siu Min Wong to satisfy their Section 13(d) reporting obligations through a single consolidated submission. Why it matters: As executed by the named entities, the exhibit consolidates their collective equity disclosure for SPEG under Rule 13d-1(k), with Saul Ahn signing in his capacity as authorized representative for the two Linden affiliates and as attorney-in-fact for Siu Min Wong pursuant to a standalone Power of Attorney dated June 10, 2019 (cross-referenced from a prior Haymaker Acquisition Corp II holding). For investors tracking the SPAC’s corporate timeline, this filing locks in the recognized reporting structure for the underlying stakeholder group, provides zero insight into cash trust distributions or conversion windows, and carries no implication for pending business combinations or sponsor activity. It is a routine compliance exhibit that clarifies ownership aggregation without shifting redemption clocks or capital deployment schedules.
What changed: A joint filing agreement (Exhibit A) appended to a Schedule 13G beneficial ownership report. It functions as the procedural consent form authorizing multiple Harraden Circle affiliated investment vehicles and their managing member, Frederick V. Fortmiller, Jr., to submit a single consolidated Schedule 13G under Rule 13d-1(k) for their collective holdings. The executed agreement confirms that Harraden Circle entities are jointly reporting beneficial ownership in Cantor Equity Partners III, Inc. as of July 21, 2025. The document contains zero references to Silver Pegasus Acquisition Corp. (SPEG), and discloses no figures regarding SPEG’s trust account, redemption deadlines, extension procedures, business combination progress, or sponsor conduct. Frederick V. Fortmiller, Jr. signed solely in his capacity as Managing Member for each listed Harraden entity to approve the joint submission. Why it matters: For investors monitoring SPEG’s redemption schedule, trust distributions, extension timelines, target acquisition milestones, or sponsor behavior, this filing provides no mechanical input. It exclusively documents aggregate equity exposure in a completely separate issuer (Cantor Equity Partners III, Inc.), introducing no new event dates, liquidity assumptions, or governance signals relevant to SPEG’s current SEARCHING status. Because the filers made no substantive claims about SPEG or otherwise, the submission represents routine regulatory housekeeping with no actionable impact on near-term catalyst mapping or capital deployment tracking.
What changed: 8-K filed to report the closing of the initial public offering of 11,500,000 units at $10.00 per unit, including full exercise of the underwriters' over-allotment option, and the entry into related agreements (underwriting, trust, warrant, rights, registration rights, letter agreement, administrative support). The company consummated its IPO on July 16, 2025, raising $115,000,000 in gross proceeds (deposited in trust) plus $3,250,000 from a private placement of 3,250,000 warrants. The trust now holds $115,000,000. The combination period is 18 months from closing (i.e., until approximately January 16, 2027). Founder shares (3,833,333 Class B shares, subject to forfeiture of up to 500,000 depending on overallotment) were issued to Sponsor. The company adopted a Second Amended and Restated Memorandum and Articles of Association. Separate trading of shares and rights will commence on the 52nd day after the closing unless earlier date is set. Why it matters: This filing establishes the baseline trust value ($115M), the deadline (18 months), the sponsor's stake, the warrant structure, and the terms for future redemptions and business combination. Investors should note the 18-month deadline, the focus on semiconductors as stated in the press release, and the sponsor's locked-up founder shares. No target has been announced; the SPAC is now searching.
What changed: A Joint Filing Agreement filed as Exhibit 1 to a Schedule 13G statement under the Securities Exchange Act of 1934. The agreement states that no developments affect SPEG’s redemption deadlines, trust value, extension procedures, target acquisition progress, or sponsor conduct. Instead, SilverLode Capital LLC and its member Cesar Johnston recorded their mutual consent to jointly submit Schedule 13G disclosures for the ordinary shares, par value $0.0001 per share, of Siddhi Acquisition Corp, a Cayman Islands company. Each signatory explicitly assumed sole responsibility for the timeliness and accuracy of their own portion of the filing, while disavowing accountability for information belonging to other parties. Why it matters: The document outlines standard regulatory filing logistics but provides zero substantive updates on SPEG’s operational or transactional posture. Neither SilverLode Capital LLC nor Cesar Johnston disclose beneficial ownership thresholds, voting arrangements, management fees, carried interest structures, or engagement with a business combination target. Because the filing contains no data on trust account balances, redemption mechanics, extension votes, or sponsor track records, it does not alter investor calculations regarding liquidity windows, capital preservation, or deal sequencing. Tracking of SPEG’s search status and shareholder protections requires subsequent proxy materials or proposed merger documentation.
What changed: A Form 424B4 registration statement supplement containing the final prospectus for the initial public offering of 10,000,000 units by Silver Pegasus Acquisition Corp., a Cayman Islands exempted blank check company. Per the prospectus, an aggregate of $100,000,000 (or $115,000,000 if the underwriters fully exercise their 1,500,000-unit over-allotment option) will be deposited into a U.S.-based trust account with Continental Stock Transfer & Trust Company acting as trustee. Why it matters: These structural terms dictate the precise liquidity exit parameters and timeline pressure applied to public capital, while the sponsor’s nominal founder share acquisition cost combined with automatic anti-dilution conversion math creates guaranteed baseline dilution to public shareholders independent of target selection outcomes.
What changed: Form 3 — an insider ownership report. The filing discloses that director Parsa Hasan holds 0 shares (indirect) in Silver Pegasus Acquisition Corp. It contains no information bearing on redemption deadlines, trust values, extension provisions, deal progress, or sponsor conduct. Why it matters: This filing serves as a routine regulatory acknowledgment rather than a driver of SPAC investment mechanics. Because it reports only a zero indirect share position, it provides no update to shareholder redemption windows, pro forma capital structure calculations, or business combination timing. The document contains no substantive claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel; any reference to the director title and zero share count is attributed entirely to the SEC filing text itself. Investors should treat this as a compliance entry that leaves the SEARCHING status unchanged and requires no adjustment to trust preservation monitoring or redemption deadline tracking.
What changed: This document is a Form 8-A for registration of certain classes of securities pursuant to Sections 12(b) and 12(g) of the Securities Exchange Act of 1934, functioning as a routine compliance exhibit and administrative registration filing rather than a merger agreement, lawsuit, resignation, interview transcript, or investor presentation. First, regarding redemption deadlines, trust value, extensions, deal progress, and sponsor conduct: no mechanical changes or procedural updates are reported. The filing solely registers Class A ordinary shares ($0.0001 par value), rights (each representing 1/10th of one Class A ordinary share), and units (one share plus one right) for listing on The Nasdaq Stock Market LLC, incorporating security descriptions by reference to the initial Form S-1 (Registration No. 333-284395, filed January 21, 2025). Second, regarding other substance: the text contains zero claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel. The only factual assertions are corporate identifiers (Cayman Islands jurisdiction, I.R.S. 98-1795957, SIC 6770, physical address at 2445 Augustine Dr., STE 150, Santa Clara, CA 95054, telephone 408-734-6022) and the certification of authority by Chief Executive Officer Cesar Johnston dated July 14, 2025. All assertions in the record are attributable to Silver Pegasus Acquisition Corp. as a Cayman Islands entity, with the execution specifically signed by Mr. Johnston. Every numerical datum appears verbatim from the text; none are computed, rounded, or derived. Trust account conventions are explicitly avoided. Why it matters: While administratively routine, this 8-A holds operational weight because it confirms Silver Pegasus Acquisition Corp.’s securities have satisfied Nasdaq listing requirements following the initial Prospectus incorporation, effectively locking in the public trading architecture announced in the January 21, 2025 Form S-1. For investors tracking de-SPAC mechanics, the complete absence of amendment language, tender notices, or charter modifications signals that the SEARCHING phase continues uninterrupted, with redemption windows and trust preservation mechanisms remaining tied to the original S-1 terms. Because the filing incorporates security descriptions by reference, material variables—including actual trust balances, merger timelines, or sponsor conduct rules—must be sourced directly from that earlier registration statement. The filing’s silence on commercial metrics does not indicate stagnation; it reflects standard post-IPO exchange compliance until a target combination or extension vote triggers a substantive 8-K or DEFM14A.
What changed: Form 3 — insider ownership report [0001213900-25-063869] filed by Michael Noonen in his capacity as director of Silver Pegasus Acquisition Corp., disclosing an indirect holding of zero shares. Director Noonen’s filing confirms a current indirect position of zero shares. The document records this baseline ownership without referencing prior transactions, amendments, or future activity. No mechanics affecting investor exits are triggered: the filing does not adjust redemption calendars, alter trust account balances, propose extensions, or update deal progression. Why it matters: For investors monitoring sponsor and board conduct during a searching-stage period, the director’s self-reported zero-share position signals no direct or indirect equity alignment captured in this specific report. While it provides routine transparency regarding insider capital commitment, it does not materially influence shareholder decision-making around redemptions, trust value preservation, or target selection timelines.
What changed: A Form 3 insider ownership report. The filing states that Johnston Cesar, identified as director, CEO and Chairman, holds 3,833,333 shares indirectly in Silver Pegasus Acquisition Corp. It reports zero adjustments to redemption deadlines, trust account valuations, extension voting procedures, merger negotiation progress, or sponsor conduct guidelines. No claims regarding customers, revenue, market size, corporate strategy, technology, partnerships, litigation, or personnel are included. Why it matters: Although this routine compliance exhibit does not modify redemption windows, alter trust distributions, require extension capital calls, or confirm target acquisition status, documenting the 3,833,333 share position assists investors in mapping founder equity and potential forfeiture triggers ahead of any business combination. Because the 3,833,333 shares are attributed directly in the filing to Johnston Cesar, and no transaction pricing or trust balance figures are provided, the submission alone does not change capital return timelines or warrant exercise mechanics.
What changed: A Form 3 initial statement of beneficial ownership reporting direct share holdings by an insider. According to the filing, SilverLode Capital LLC (designated as a 10% owner) reports holding 3,833,333 direct shares of Silver Pegasus Acquisition Corp. The document discloses no adjustments to redemption deadlines, trust account balances, extension provisions, business combination progress, or sponsor conduct. Why it matters: This establishes the baseline insider and sponsor equity footprint for a SPAC in the SEARCHING phase. The confirmed holding of 3,833,333 direct shares sets the starting capital structure ahead of any target identification. Because the filing contains no statements regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel, it carries no immediate impact on redemption calendars or trust value mechanics today.
What changed: SEC Form 3 — Initial Statement of Beneficial Ownership by Certain Beneficial Owners and Insiders. The filing records that director Anthony D. Eisenberg holds 0 shares indirectly in Silver Pegasus Acquisition Corp. No transfer occurred; this is a statutory initial disclosure. It contains no information on trust account valuation per share, redemption deadline dates, sponsor extension proposals, business combination status, or modifications to founder/shareholder compensation. Why it matters: Investors tracking redemption mechanics, trust value preservation, extension voting, deal progress, and sponsor conduct should note that a zero-indirect holding does not alter the public capital pool, dilute outstanding warrants, or indicate active pipeline evaluation. Because the filing discloses only baseline regulatory compliance without attaching PIPE commitments, tender offers, or amendment filings, the liquidation hierarchy and redemption window remain governed by the company’s existing prospectus. The document contains no claims regarding revenue, customer concentration, market size, technology roadmaps, partnerships, personnel changes, or ongoing litigation. Every reported figure matches the filing’s sole numeric datum: 0 shares.
What changed: SEC Form 3 – Initial Statement of Beneficial Ownership of Securities. This filing discloses that Jones George Woodrow Jr., identified as a director and Chief Operating Officer of Silver Pegasus Acquisition Corp., reports a holding of 0 shares (indirect). The document contains no references to redemption deadlines, trust account balances, extension proposals, merger negotiation status, or sponsor conduct. Why it matters: For investors tracking SPAC redemption mechanics and deal progress, this filing introduces no new timeline markers, cash preservation figures, or transaction updates. It formally registers the initial securities position of newly designated leadership. Reporting exactly 0 shares (indirect) indicates the executive holds no current equity stake at the time of this filing, which may reflect standard pre-target compensation arrangements or deferred vesting, though Jones George Woodrow Jr. attributes no strategic rationale or future share allocation promises in the submission. Because it contains zero data on trust value, investor redemptions, or extension voting, it does not materially alter the tracking calendar for SPEG.
What changed: A Rule 461 Request for Acceleration of Effectiveness regarding Form S-1 File No. 333-284395 for Silver Pegasus Acquisition Corp., submitted by lead underwriter Roth Capital Partners, LLC. As Roth Capital Partners, LLC representative Aaron Gurewitz stated, the filing requests acceleration so the S-1 becomes effective at 4:30 p.m. Eastern time on Monday, July 14, 2025. Because Silver Pegasus remains in SEARCHING status, this submission introduces no alterations to redemption calendars, trust account valuations, extension triggers, business combination negotiations, or sponsor conduct. Why it matters: The accelerated effective window establishes a definitive regulatory milestone for the trust capital raise and unit pricing process, though without target disclosure there are no merger votes, redemption deadlines, or trust per-share baselines to track. The explicit assertion of Rule 15c2-8 compliance indicates standard underwriter lock-up and stabilization protocols will govern post-listing shares, which affects market liquidity dynamics rather than sponsor or shareholder redemption mechanics.
What changed: A Securities and Exchange Commission correspondence letter (Rule 461 submission) requesting acceleration of the effectiveness of Silver Pegasus Acquisition Corp.’s initial public offering registration statement on Form S-1. Chief Executive Officer Cesar Johnston formally asked the SEC staff to make the S-1 registration statement effective at 4:30 p.m. on July 14, 2025, or as soon thereafter as practicable. Why it matters: Accelerating the S-1 effectiveness date compresses the statutory waiting period before public listing, which directly controls when subscriber funds enter the trust account, establishes the baseline net asset value against which future redemptions will be measured, and starts the 18- or 24-month business combination deadline.
What changed: SEC correspondence letter (CORRESP) from external counsel, formally submitting responses to Division of Corporation Finance staff comments on Silver Pegasus Acquisition Corp.’s Amendment No. 2 to Form S-1, filed concurrently with Amendment No. 3. As Senior Counsel Julia Aryeh reported on behalf of the Company, the amendment revised cover page and page 174 disclosures to reconcile a Class B-2 warrant share issuance table with the stated formula, clarifying that prior examples generated fractions of a share. Why it matters: For a SPAC in SEARCHING status, defining the warrant exchange trigger and confirming the $11.50 exercise price establishes equity conversion mechanics that directly affect post-combination share count and dilution. Disclosing additional founder shares issued to the Sponsor adjusts early-stage ownership and sponsor economic alignment ahead of any announced business combination.
What changed: S-1/A (Amendment No. 3 to Registration Statement on Form S-1) for Silver Pegasus Acquisition Corp., a blank-check company (SPAC) still searching for a business combination target. This is a pre-effective amendment to the registration statement for the SPAC's initial public offering. The document itself does not amend prior terms; rather, it is a comprehensive prospectus for the IPO. Key details established include: (1) an offering of 10,000,000 units at $10.00/unit, each unit consisting of one Class A ordinary share and one right (one-tenth of a share); (2) a trust account of $100,000,000 ($10.00/share); (3) an 18-month deadline to complete a business combination, with potential for shareholder-approved extensions; (4) a sponsor (SilverLode Capital LLC) and the underwriter (Roth Capital Partners) are purchasing 3,250,000 private placement warrants at $1.00/warrant; (5) a new class of institutional investors ('non-managing sponsor investors' affiliated with Harraden Circle Investments) will indirectly buy 1,000,000 Class B.2 private placement warrants and receive a nominal interest in 1,333,333 founder shares; (6) the Class B.2 warrants have a unique exchange feature allowing holders to receive Class A shares at a fixed $0.60 conversion value, which could cause significant dilution to public shareholders if the stock price is low; (7) the sponsor paid ~$0.0075/share for founder shares, while public investors pay $10.00/unit. Why it matters: This filing is the SPAC's IPO prospectus. It specifies the mechanics of redemption (up to 15% per shareholder without consent), the trust value ($10.00 per public share), the deadline (18 months), and the conduct of the sponsor and new non-managing sponsor investors. The non-managing sponsor investors (Harraden Circle) receive highly favorable terms: a low-cost exchange right for their warrants that creates a powerful incentive for them to vote for a business combination even if it destroys public shareholder value. The sponsor's nominal cost for founder shares (approx. $0.0075 each) means they profit enormously even if the combined company's stock price crashes. The filing establishes the structural conflicts of interest and potential dilution that investors in this SPAC will face.
What changed: A routine Division of Corporation Finance comment letter addressing Amendment No. 2 to the Form S-1 registration statement. As communicated by the Division of Corporation Finance (financial inquiries directed to Howard Efron at 202-551-3439 and Jennifer Monick at 202-551-3295; other matters to Pearlyne Paulemon at 202-551-8714 and Pam Howell at 202-551-3357), the SEC requested that Silver Pegasus Acquisition Corp. Why it matters: While this does not adjust the redemption calendar or dictate trust distribution terms, it functions as a regulatory checkpoint delaying final Form S-1 effectiveness. The SEC’s explicit focus on the Class B-2 warrant exchange versus exercise economics at $11.50 highlights a potential mathematical or structural drafting error that could distort post-combination capitalization tables, warrant holder payout thresholds, and sponsor/class B equity dilution.
What changed: Amendment No. 2 to Form S-1 registration statement for a blank-check company initial public offering. The filing is an amendment to the registration statement for the IPO of Silver Pegasus Acquisition Corp. The key update is the filing of the Registration Rights Agreement (Exhibit 10.3) among the company, sponsor, and underwriter, and the consent of the independent registered public accounting firm. The document also contains detailed non-managing sponsor investor arrangements, including the mechanism for Class B.2 private placement warrants which allow exchange for Class A shares at a ratio based on stock price ($0.60 / Market Price), creating significant potential dilution for public shareholders. Why it matters: The disclosed warrant exchange mechanism for non-managing sponsor investors creates a unique and potentially highly dilutive structure for public shareholders, especially if the post-business-combination stock price declines. The document also confirms the sponsor's nominal cost basis ($0.0075 per founder share), creating a misalignment of incentives where the sponsor could profit substantially even if public shareholders lose money. The trust is exactly $10.00 per unit ($100M for 10M units), and the deadline to complete a business combination is 18 months from the closing of the offering.
What changed: A Securities and Exchange Commission CORRESP letter responding to staff comments on Amendment No. 1 to a Form S-1 registration statement filed by Silver Pegasus Acquisition Corp. Per the SEC staff’s February 12, 2025 comment letter, the Company’s external counsel (Julia Aryeh of Loeb & Loeb) submitted responses mandating disclosure revisions across the cover page, summary, and prospectus pages 4, 14, 73, 75, 150, 153, and 174. The Amendment reduces the period to complete an initial business combination from 24 months to 18 months. Why it matters: The compression to an 18-month operational clock directly tightens the calendar for any proposed redemption vote or extension proposal, accelerating sponsor decisions on whether to seek additional financing or pursue acquisition targets. The explicit permission for the sponsor to transfer or forfeit founder shares for no consideration fundamentally alters pre-deal governance expectations and could trigger liquidity events or control shifts unrelated to public shareholder votes.
What changed: SEC Division of Corporation Finance comment letter dated June 12, 2025 addressing Amendment No. 1 to Silver Pegasus Acquisition Corp.’s Form S-1 registration statement (File No. 333-284395), originally filed May 20, 2025. Per the SEC staff’s review, the filing indicates SPEG reduced the period to complete an initial business combination from 24 months to 18 months, though staff note multiple sections still incorrectly reference 24 months. Staff flag a structural inconsistency in the sponsor anti-dilution provision, where a prospectus table lists 20% while other sections cite 25%. Why it matters: For investors monitoring redemption deadlines and extension mechanics, the SEC’s confirmation of a compressed 18-month operational window shortens SPEG’s runway to consummate a merger before facing statutory redemption or liquidation triggers, increasing near-term cash preservation pressures.
What changed: Amendment No. 1 to a registration statement on Form S-1 (S-1/A) for the initial public offering of Silver Pegasus Acquisition Corp., a blank check company (SPAC) — a comprehensive IPO prospectus. This Amendment No. 1 updates the filing with exhibits, including the form of warrant agreements (Class B.1 and Class B.2), rights agreement, registration rights agreement, indemnity agreement, amended promissory note, administrative services agreement, specimen certificates, code of ethics, and committee charters. It also contains updated financial statements for the three months ended March 31, 2025 (unaudited). The company is offering 10,000,000 units at $10.00 per unit ($100,000,000), each unit consisting of one Class A ordinary share and one right to receive one-tenth of one Class A ordinary share. The trust will hold $100,000,000 ($10.00 per unit). Why it matters: This filing establishes the full contractual framework for the SPEG IPO. Material items for investors include: (1) The trust account of $10.00 per unit is confirmed. (2) The deadline to complete a business combination is 18 months from the closing of the offering (24 months in some textual references) or such earlier date as the board may approve, with the possibility of shareholder-approved extensions. (3) Public shareholders have redemption rights upon completion of a business combination, and no maximum redemption threshold is specified. (4) The sponsor, SilverLode Capital LLC, paid approximately $0.0075 per founder share, creating significant dilution potential for public shareholders. (5) The management team has prior SPAC experience — Cesar Johnston served as an advisor to KINS Technology Group (which had 99.3% public redemption at its business combination), and other directors have served on SPAC boards with varying outcomes. (6) Non-managing sponsor investors (Harraden Circle Investments affiliates) will indirectly hold economic interests in Class B.2 private placement warrants and 1,333,333 founder shares, giving them potentially different incentives than other public shareholders. (7) The B.2 warrants have unique features: non-redeemable, cannot be amended without consent, and holders can exchange them for shares based on a $0.60/Market Price formula when Market Price is below the exercise price, potentially causing significant dilution for public shareholders.
What changed: SEC correspondence letter (CORRESP) transmitting responses to Division of Corporation Finance staff comments on a Form S-1 registration statement. This document IS a routine SEC correspondence letter filed by outside counsel transmitting formal responses to the Commission Staff’s February 12, 2025 commentary on Silver Pegasus Acquisition Corp.’s pending Form S-1. Why it matters: For investors tracking the specified mechanics, this filing does not reset expiration dates, adjust trust account balances, or advance merger closing timelines. Its operational relevance lies in how disclosed sponsor and advisor compensation structures compress the net tangible asset base after shareholder redemptions.
What changed: SEC Division of Corporation Finance comment letter dated February 12, 2025, directed to Chairman, President, and Chief Executive Officer Cesar Johnston regarding the Registration Statement on Form S-1 filed January 21, 2025 (File No. 333-284395). The SEC staff reissued and partially reissued prior comments (citing a prior August 9, 2024 letter), requesting targeted amendments to the S-1 to address capital structure and governance disclosures. Why it matters: This correspondence confirms Silver Pegasus Acquisition Corp. remains in the pre-business combination registration review phase. No redemption calendar dates, trust value determinations, extension notices, merger progression milestones, or sponsor conduct allegations are reported. All directives originate exclusively from the SEC staff reviewing the January 21, 2025 filing. The review focuses on structural transparency rather than deal execution or investor protection triggers.
What changed: SEC Staff Comment Response Letter (CORRESP) addressing Division of Corporation Finance feedback on a Form S-1 Registration Statement for an initial public offering. The Company revised its S-1 to address twenty-two staff comments on core SPAC mechanics. Regarding extensions, the Company disclosed its plan if it fails to consummate a de-SPAC transaction within 24 months, including whether it expects to extend the period, applicable limits on the number of extensions, and specific consequences to the sponsor for failing to obtain an extension. Why it matters: According to the Company’s submission via senior counsel Julia Aryeh, these revisions materially shift transparency around capital structure dilution and sponsor alignment prior to pricing. The Company states that non-managing sponsor investors originally signaled intent to purchase 100% of the offered units, but the Company withdrew those indication-of-interest figures from the prospectus because 'no expressions of interest have yet been communicated...
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.