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Silver Pegasus Acquisition Corp (NASDAQ: SPEG) is a special purpose acquisition company formed in 2024 with the aim of effecting a business combination in the semiconductor and systems-solutions sector. Headquartered in Santa Clara, California, the SPAC raised initial proceeds through a public offering of units under the ticker SPEGU and subsequently began trading Class A shares (SPEG) and rights (SPEGR) upon separation of securities.
Corporate Structure and Leadership
The company does not disclose a headcount, but its executive team and board bring over three decades of experience in semiconductor and capital markets. Cesar Johnston serves as Chairman, President, and Chief Executive Officer; he previously led Energous Corporation and held senior roles at Marvell Technology Group Ltd and Broadcom Inc. George Jones, Chief Operating Officer, has experience leading technology practices at Woodside Capital and previously held executive positions at Applied Micro Circuits and Broadcom subsidiaries. The board also includes Hassan Parsa, Mike Noonen, and Anthony D. Eisenberg. Roth Capital Partners acts as the sole book-running manager for the offering.
SPAC Investment by Precondo CA
Recent Developments
On July 15, 2024, Silver Pegasus filed confidentially with the SEC to raise up to $150 million in an IPO of 15 million units at $10 each. On July 14, 2025, the company priced 10 million units at $10.00 per unit, generating $100 million in gross proceeds. An over-allotment option exercised in full on July 17 increased total units to 11.5 million and gross proceeds to $115 million. Units began trading under SPEGU on July 15, 2025; Class A shares (SPEG) and rights (SPEGR) began trading upon separation.
A Schedule 13G filed July 24, 2025, indicates Harraden Circle entities hold 875,000 shares, representing 5.0% of Class A. The Form 10-Q dated August 25, 2025, and Current Report (Form 8-K) filed September 5, 2025, provide quarterly updates and note corporate events under Items 8.01 and 9.01.
Financial and Strategic Analysis
Each unit comprised one share of Class A common stock and one right to receive one-tenth of a share upon consummation of a business combination. Proceeds reside in trust pending deployment, giving the SPAC access to $115 million to target companies with enterprise values between $200 million and $500 million. Volume on October 6, 2025, reached 112,522 shares, which is 798.6% above its 12,522-share average, while the share price stood at $9.98, reflecting a 0.12% decline for the day. The SPAC has targeted opportunities in semiconductors and systems solutions, emphasizing teams with established track records and growth potential.
Market Position and Industry Context
Operating within a SPAC market that recorded 72 deals in 2025 year-to-date, Silver Pegasus positions itself among technology-focused blank-check companies. Its mandate aligns with increased M&A activity in semiconductors driven by advances in AI, 5G, and cloud computing. As a Nasdaq-listed SPAC, it competes for sponsor-backed acquisition opportunities alongside peers focusing on consolidation trends in chip design, manufacturing services, and systems integration.
tl;dr
As of October 6, 2025, Silver Pegasus’s Class A shares trade at $9.98 with daily volume surging by nearly 800%. The SPAC raised $115 million in July 2025 and holds that capital in trust while pursuing semiconductor and systems-solutions targets with enterprise values of $200 million to $500 million. Key filings include a Schedule 13G (July 24, 2025), Form 10-Q (August 25, 2025), and Form 8-K (September 5, 2025). The company is actively seeking a business combination that leverages its leadership's industry expertise.
