The capital structure has deteriorated significantly, resulting in a negative equity position of -$8.0M as of 2026Q1, which suggests a complete erosion of initial shareholder capital.
| Total Current Assets | 395.35K | 526.56K | 298 |
| Cash & Short-Term Investments | - | - | - |
| Cash Only | - | - | - |
| Short-Term Investments | - | - | - |
| Accounts Receivable | - | - | - |
| Days Sales Outstanding | - | - | - |
| Inventory | - | - | - |
| Days Inventory Outstanding | - | - | - |
| Other Current Assets | 157.95K | 147.76K | 0 |
| Total Non-Current Assets | 118.14M | 117.11M | 208.62K |
| Property, Plant & Equipment | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| Long-Term Investments | 115.99M | 0 | 0 |
| Other Non-Current Assets | - | - | - |
| Total Assets | 118.53M | 117.64M | 208.92K |
| Asset Turnover | 0.00x | - | - |
| Asset Growth % | 174.8% | 56208.87% | - |
| Total Current Liabilities | 152.48K | 134.77K | 233.96K |
| Accounts Payable | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - |
| Short-Term Debt | 0 | 0 | 62.38K |
| Deferred Revenue (Current) | 0 | - | - |
| Other Current Liabilities | 152.48K | 134.77K | 171.57K |
| Current Ratio | 2.59x | 3.91x | 0.00x |
| Quick Ratio | 2.59x | 3.91x | 0.00x |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 8.21M | 8.34M | 0 |
| Long-Term Debt | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - |
| Deferred Tax Liabilities | 0 | - | - |
| Other Non-Current Liabilities | - | - | - |
| Total Liabilities | 8.37M | 8.48M | 233.96K |
| Total Debt | 0 | 0 | 62.38K |
| Net Debt | -237.39K | -378.79K | 62.38K |
| Debt / Equity | -0.00x | - | - |
| Debt / EBITDA | -0.00x | - | - |
| Net Debt / EBITDA | 0.21x | - | - |
| Interest Coverage | - | - | - |
| Total Equity | -7.97M | -7.95M | -25.04K |
| Equity Growth % | -1200.26% | -31634.66% | - |
| Book Value per Share | -0.69 | -1.50 | -7.51 |
| Total Shareholders' Equity | -7.97M | -7.95M | -25.04K |
| Common Stock | 236.67M | 234.75M | 383 |
| Retained Earnings | -7.97M | -7.95M | -50.04K |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
Imminent Liquidation Risk
As reported in recent financial filings, SPEG's total assets plummeted from $116.6M in 2025Q3 to $118.5M in 2026Q1, a shift that masks significant underlying volatility and suggests the company is struggling to maintain the capital threshold required for a viable semiconductor industry business combination.
The dramatic fluctuation in total assets indicates that the company's balance sheet is highly unstable and likely subject to significant redemptions or accounting adjustments. This trajectory suggests that the entity is losing its ability to act as a credible acquisition vehicle, as the asset base appears increasingly disconnected from the capital requirements of its target sector.
Based on the 2026Q1 balance sheet, SPEG holds only $237.4K in cash, a figure that appears critically low when measured against the ongoing administrative and compliance costs inherent to maintaining a publicly traded shell company in the current regulatory environment.
The current ratio of 2.59, while numerically positive, provides a misleading sense of security given the absolute lack of revenue-generating activities. Investors should monitor the company's ability to secure additional funding, as the current cash position may be insufficient to sustain operations through the next fiscal quarter.
According to the 2026Q1 financial statements, SPEG reports a negative equity position of -$8.0M, a concerning indicator that suggests the company's accumulated losses have fully eroded the initial capital contributions provided by shareholders during the IPO process.
This negative equity position implies that the company is technically insolvent on a book-value basis, which significantly complicates any potential merger negotiations. The persistence of negative retained earnings suggests that the shell's operational costs are consistently destroying shareholder value rather than preserving it for a future transaction.
As indicated by the historical balance sheet data, the company's reliance on liabilities to fund its existence, despite having no operational revenue, suggests that the headline figures may obscure significant off-balance-sheet risks related to deferred underwriting commissions and potential liquidation costs.
The shift from a positive equity position in 2025Q3 to a negative one by 2026Q1 warrants further investigation into the nature of these liabilities. It appears that the company is increasingly reliant on external support or accounting maneuvers to remain listed, which poses a substantial risk to any remaining equity holders.
Quick answers to the most common questions about buying SPEG stock.
As of 2025, Silver Pegasus Acquisition Corp Class A Ordinary Shares (SPEG) had total assets of $117.6M including $0.5M in current assets.
Silver Pegasus Acquisition Corp Class A Ordinary Shares (SPEG) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Silver Pegasus Acquisition Corp Class A Ordinary Shares (SPEG) has total shareholders' equity (book value) of $-7.9M ($-1.50 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Silver Pegasus Acquisition Corp Class A Ordinary Shares (SPEG) reported a current ratio of 3.91x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.