Silver Pegasus Acquisition Corp. Reports Net Income of $2,948 for 2025, Shifts from Previous Loss

Silver Pegasus Acquisition Corp. (Nasdaq: SPEG, SPEGU, SPEGR), a blank check company, reported a net income of $2,948 for the year ended December 31, 2025, a significant shift from the net loss of $50,041 reported for the period from June 5, 2024 (inception) through December 31, 2024. This income was primarily driven by $2.1 million in interest earned on marketable securities held in the Trust Account, which was offset by a $1.6 million loss on derivative liability, $111,382 in transaction costs, and $382,325 in general and administrative costs. The increase in general and administrative costs compared to the previous period was attributed to accounting and legal fees related to the initial public offering (IPO) and efforts to complete a business combination.

The company's balance sheet as of December 31, 2025, reflected total assets of $117.6 million, including $117.1 million in marketable securities held in the Trust Account and $378,794 in cash. Total liabilities amounted to $8.5 million, which included $2.8 million in derivative liability related to public rights, $1.6 million in derivative liability related to private warrants, and $4.0 million in deferred underwriting fees. As of December 31, 2024, the company had total assets of $208,918 and total liabilities of $233,959. The company has not yet identified a business combination target and has not generated any operating revenues to date.

Silver Pegasus Acquisition Corp. completed its IPO on July 16, 2025, raising gross proceeds of $115 million through the sale of 11.5 million units at $10.00 per unit. Simultaneously, the company sold 3.25 million private placement warrants to its sponsor and Roth Capital Markets for $3.25 million. These funds, along with interest earned, are intended to be used for a business combination, primarily targeting companies in the technology sector, with a focus on semiconductors and systems solutions, with an enterprise value in the range of $200-$500 million.

The company's ability to continue as a going concern is dependent on its ability to complete a business combination by January 16, 2027. The company's management plans to address this uncertainty through a Business Combination. 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 financial statements are issued.