Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 66

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 66
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 the closing price of the Company’s ordinary shares equals or exceeds $12.50 per share
(as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days
within any 30-trading day period commencing after the Company’s initial business combination and (2) with respect to
the remaining 50% of the founder shares, six months after the date of the consummation of the Company’s initial business combination,
or earlier, in either case, if, subsequent to the Company’s initial business combination, the Company consummate a liquidation,
merger, share exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange
their ordinary shares for cash, securities or other property.

The
Private Placement Units (including the underlying securities) will not be transferable, assignable or saleable until the completion
of the Company’s initial business combination (except to certain permitted transferees).

Promissory
Note — Related Party

On
June 14, 2024, the sponsor has agreed to loan the Company up to $500,000 (the “Promissory Note”) to be used for a portion
of the expenses of the IPO. Immediately before the IPO, the Company had an outstanding loan balance of $295,019 and the balance was repaid.
There is no balance as of September 30, 2025 and December 31, 2024.

Working
Capital Loans — Related Party

In
addition, in order to meet the Company’s working capital needs following the consummation of the initial public offering if the
funds not held in the Trust Account are insufficient, or to extend its life, its insiders, officers and directors or their affiliates/designees
may, but are not obligated to, loan the Company funds, from time to time or at any time, in whatever amount they deem reasonable in their
sole discretion. Each loan would be evidenced by a promissory note. The notes would either be paid upon consummation of the Company’s
initial business combination, without interest, or, at the lender’s discretion, up to $3,000,000 of the notes (“Working Capital
Loans”) may be converted upon consummation of the Company’s initial business combination into Working Capital Units at
a price of $10.00 per Unit. If the Company do not complete an initial business combination