Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 101

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 101
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 of the Company, at a price of $10.00 per Unit (the “Working Capital Units”)
at the option of the lender. As of September 30, 2025 and December 31, 2024, the Company had $457,500 and $0 borrowings under the Working
Capital Loans.

We
do not believe we will need to raise additional funds in order to meet the expenditures required for operating our business. However,
if our estimate of the costs of identifying a target business, undertaking in-depth due diligence and negotiating an initial business
combination are less than the actual amount necessary to do so, we may have insufficient funds available to operate our business prior
to our initial business combination. Moreover, we may need to obtain additional financing either to complete our initial business combination
or because we become obligated to redeem a significant number of our Public Shares upon completion of our initial business combination
in which case we may issue additional securities or incur debt in connection with such initial business combination.

17

Off-Balance
Sheet Financing Arrangements

We
have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of September 30, 2025. We do
not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as
variable interest entities, which would have been established for the purpose of facilitating off-balance sheet arrangements. We have
not entered into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments
of other entities, or purchased any non-financial assets.

Contractual
Obligations

Registration
Rights

The
holders of the founder shares and Private Placement Units, including any Working Capital Units of those issued upon conversion of Working
Capital Loans will be entitled to registration rights pursuant to a registration rights agreement signed on December 4, 2024 by and among
the Company and the insiders. The holders of these securities are entitled to make up to three demands, excluding short form demands,
that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect
to registration statements filed after the completion of our initial business combination and rights to require the Company to register
for resale such securities pursuant to Rule 415 under the Securities Act. The Company will bear the costs and expenses of filing any
such registration statements.

Underwriting
Agreement

The
underwriters received a cash underwriting discount of $0.125