Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 30

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 30
---
5 were organizational activities, those necessary to prepare for the IPO, described below, and, after the IPO, identifying a target
company for an initial business combination. We do not expect to generate any operating revenues until after the completion of our initial
business combination. We may generate non-operating income in the form of interest and dividend income on cash and investments held in
the trust account. We incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance),
as well as for due diligence expenses in connection with completing an initial business combination.

For
the three months ended September 30, 2025, we had a net income of $686,686, which consisted of interest and dividend income on cash and
investments held in trust account of $911,969 and partially offset by formation and operating costs of $225,283.

16

For
the three months ended September 30, 2024, we had a net loss of $129,214, which consisted of formation and operating costs of $129,214.

For
the nine months ended September 30, 2025, we had a net income of $2,090,753, which consisted of interest and dividend income on cash
and investments held in trust account of $2,709,511 and partially offset by formation and operating costs of $618,758.

For
the period from May 31, 2024 (inception) through September 30, 2024, we had a net loss of $146,534, which consisted of formation and
operating costs of $146,534.

Liquidity
and Capital Resources  

The
Company’s liquidity needs up to September 30, 2025 had been satisfied through a payment from the Sponsor of $25,000 for the Founder
Shares to cover certain offering costs and the proceeds from the public offering and private placements.

Following
the closing of the IPO and sale of the Private Placement Units on December 6, 2024, a total of $86,250,000 was placed in the trust account,
and we had $533,006 of cash held outside of the trust account, after payment of costs related to the IPO, and available for working capital
purposes. In connection with the IPO, we incurred $2,528,729 in transaction costs, consisting of $1,078,125 of underwriting fees, $862,500
of deferred underwriting fees, and $588,