Silver Pegasus Acquisition Corp (NASDAQ: SPEG) is a blank-check company formed for the purpose of completing a merger, share exchange, asset acquisition, or similar business combination with one or more target businesses. It generates no operating revenue. Instead, it holds proceeds from its initial public offering in a trust account, targeting a redemption value of $10.00 per share for public shareholders, and funds operations through sponsor loans and interest earned on trust assets. The company is incorporated in the Cayman Islands and led by Chairman, President, and CEO Cesar Johnston (appointed June 28, 2024), with George Jones serving as Chief Operating Officer. The sponsor reimburses office space and administrative support at $10,000 per month. If a business combination is not completed by January 16, 2027, the company faces mandatory liquidation. As of December 31, 2025, the company disclosed substantial doubt about its ability to continue as a going concern, per its 10-K filed March 24, 2026.

Revenue model

No operating revenue. The company holds IPO proceeds in a trust account and relies on sponsor loans and trust account interest to fund working capital. Upon a completed business combination, the transaction structure, not ongoing operations, would generate value for shareholders.

Products and services

Blank-check acquisition vehicle seeking an initial business combination target. No products or services as of the 10-K filed March 24, 2026.

Customers and end markets

Public shareholders holding Class A ordinary shares and the sponsor entity. End market is determined by the target business selected for the initial business combination, which had not been identified as of the 10-K filed March 24, 2026.

Value-chain role

Special purpose acquisition company (SPAC) acting as a publicly listed shell vehicle to identify, negotiate, and complete a merger or acquisition with a private operating business.

Geographic exposure

Incorporated in the Cayman Islands. No operating geography disclosed as of the 10-K filed March 24, 2026.

Source: SEC 10-K, filed 2026-03-24

Industry: Blank Checks